Headinvest LLC Reduces Position in ConocoPhillips (NYSE:COP)

Headinvest LLC cut its stake in shares of ConocoPhillips (NYSE:COPGet Rating) by 16.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,014 shares of the energy producer’s stock after selling 974 shares during the quarter. Headinvest LLC’s holdings in ConocoPhillips were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eaton Vance Management boosted its holdings in ConocoPhillips by 250.3% in the third quarter. Eaton Vance Management now owns 1,933,095 shares of the energy producer’s stock valued at $130,268,000 after purchasing an additional 1,381,331 shares during the last quarter. Capital World Investors raised its position in shares of ConocoPhillips by 7.1% in the third quarter. Capital World Investors now owns 19,853,204 shares of the energy producer’s stock worth $1,345,452,000 after acquiring an additional 1,324,230 shares during the period. Los Angeles Capital Management LLC raised its position in shares of ConocoPhillips by 2,896.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,331,669 shares of the energy producer’s stock worth $96,120,000 after acquiring an additional 1,287,232 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of ConocoPhillips in the fourth quarter worth about $91,672,000. Finally, Ruffer LLP raised its position in shares of ConocoPhillips by 970.3% in the fourth quarter. Ruffer LLP now owns 1,171,452 shares of the energy producer’s stock worth $86,699,000 after acquiring an additional 1,062,002 shares during the period. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

In other ConocoPhillips news, VP Heather G. Sirdashney sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $98.71, for a total value of $562,647.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas G. Olds sold 19,600 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $99.95, for a total transaction of $1,959,020.00. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

A number of brokerages have weighed in on COP. KeyCorp upped their price objective on shares of ConocoPhillips from $112.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, April 8th. Bank of America downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and upped their price target for the stock from $110.00 to $135.00 in a research report on Tuesday, March 8th. Morgan Stanley upped their price target on shares of ConocoPhillips from $96.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $114.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, March 11th. Finally, Royal Bank of Canada upped their price target on shares of ConocoPhillips from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, March 7th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $105.79.

Shares of NYSE:COP traded up $0.41 during mid-day trading on Friday, reaching $105.02. 6,717,710 shares of the company were exchanged, compared to its average volume of 7,915,445. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.41. The firm has a market cap of $135.84 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.38 and a beta of 1.36. The firm’s 50-day simple moving average is $100.38 and its 200 day simple moving average is $88.13. ConocoPhillips has a 1 year low of $51.41 and a 1 year high of $108.30.

ConocoPhillips (NYSE:COPGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.03. The firm had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $18.36 billion. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The firm’s quarterly revenue was up 82.7% on a year-over-year basis. During the same quarter last year, the company posted $0.69 EPS. On average, research analysts forecast that ConocoPhillips will post 14.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Tuesday, May 17th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, May 16th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.75%. ConocoPhillips’s payout ratio is currently 18.97%.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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