ConocoPhillips (NYSE:COP) Shares Sold by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. cut its position in ConocoPhillips (NYSE:COP) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 389,103 shares of the energy producer’s stock after selling 19,600 shares during the period. ConocoPhillips accounts for about 5.2% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 7th biggest position. Adams Natural Resources Fund Inc.’s holdings in ConocoPhillips were worth $40,864,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares during the period. Invesco Ltd. grew its holdings in ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares during the period. Geode Capital Management LLC grew its stake in shares of ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Northern Trust Corp boosted its holdings in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after buying an additional 2,971,661 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $89.41 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The business has a 50-day moving average of $89.84 and a 200-day moving average of $95.28. The stock has a market capitalization of $113.02 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.48 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.49%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on COP shares. Mizuho reduced their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Morgan Stanley lifted their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wells Fargo & Company lowered their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna lowered their target price on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

About ConocoPhillips

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.