Riverstone Advisors LLC Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

Riverstone Advisors LLC trimmed its position in shares of ConocoPhillips (NYSE:COP) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,651 shares of the energy producer’s stock after selling 489 shares during the quarter. ConocoPhillips makes up about 2.4% of Riverstone Advisors LLC’s portfolio, making the stock its 12th biggest holding. Riverstone Advisors LLC’s holdings in ConocoPhillips were worth $3,674,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in ConocoPhillips in the 1st quarter valued at $31,000. Cetera Investment Advisers grew its stake in ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after acquiring an additional 968 shares during the period. Baird Financial Group Inc. grew its stake in ConocoPhillips by 1.9% in the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after acquiring an additional 9,313 shares during the period. Zions Bancorporation N.A. boosted its stake in ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after purchasing an additional 672 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 2,465 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Down 1.0 %

NYSE:COP traded down $1.25 on Tuesday, reaching $129.00. 1,979,028 shares of the company’s stock were exchanged, compared to its average volume of 5,473,750. 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 firm has a market capitalization of $151.76 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The business has a fifty day moving average of $119.24 and a 200-day moving average of $116.86. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the firm earned $2.71 earnings per share. As a group, analysts expect that ConocoPhillips will post 9.21 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.42%. ConocoPhillips’s dividend payout ratio is 25.61%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COP shares. Scotiabank lifted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Morgan Stanley lifted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Raymond James reduced their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Finally, Barclays initiated coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.59.

Insiders Place Their Bets

In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 over the last three months. Company insiders own 0.34% of the company’s stock.

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.