Victory Capital Management Inc. Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Victory Capital Management Inc. decreased its position in ConocoPhillips (NYSE:COP) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,340,250 shares of the energy producer’s stock after selling 1,136 shares during the quarter. Victory Capital Management Inc.’s holdings in ConocoPhillips were worth $155,563,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Capital Investment Counsel Inc purchased a new position in shares of ConocoPhillips during the third quarter valued at about $228,000. Columbia Trust Co 01012016 increased its position in shares of ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after buying an additional 112 shares during the period. Raymond James & Associates increased its position in shares of ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after buying an additional 23,572 shares during the period. Syon Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at about $2,262,000. Finally, PFG Investments LLC purchased a new position in shares of ConocoPhillips during the third quarter valued at about $233,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.0 %

NYSE:COP opened at $124.36 on Thursday. The company’s 50 day moving average price is $123.43 and its 200-day moving average price is $117.72. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $146.30 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.76 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 9.11 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.51%. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insider Activity

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the sale, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 over the last 90 days. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Raymond James reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Scotiabank boosted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Barclays initiated coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Truist Financial dropped their price objective on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group boosted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.