Rockefeller Capital Management L.P. Sells 135,553 Shares of ConocoPhillips $COP

Rockefeller Capital Management L.P. decreased its position in ConocoPhillips (NYSE:COP) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 443,175 shares of the energy producer’s stock after selling 135,553 shares during the period. Rockefeller Capital Management L.P.’s holdings in ConocoPhillips were worth $41,486,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Nicolet Advisory Services LLC grew its holdings in shares of ConocoPhillips by 0.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after acquiring an additional 95 shares in the last quarter. Duncan Williams Asset Management LLC lifted its holdings in ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after acquiring an additional 100 shares during the period. Wedge Capital Management L L P NC boosted its position in ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC boosted its position in ConocoPhillips by 1.3% in the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management boosted its position in ConocoPhillips by 1.5% in the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Roth Mkm set a $130.00 target price on ConocoPhillips and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Royal Bank Of Canada increased their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Scotiabank raised their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research lifted their price objective on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.20.

ConocoPhillips Stock Performance

Shares of COP opened at $107.92 on Monday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock’s fifty day moving average price is $118.65 and its two-hundred day moving average price is $111.39. The firm has a market cap of $131.48 billion, a PE ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. On average, equities research analysts forecast that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.