ConocoPhillips (NYSE:COP) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC reduced its stake in shares of ConocoPhillips (NYSE:COP) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,598,265 shares of the energy producer’s stock after selling 33,016 shares during the period. Natixis Advisors LLC’s holdings in ConocoPhillips were worth $167,850,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after acquiring an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after acquiring an additional 3,397,360 shares during the last quarter. Northern Trust Corp grew its position in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock valued at $1,364,364,000 after acquiring an additional 2,971,661 shares during the period. Finally, GAMMA Investing LLC increased its stake in ConocoPhillips by 10,440.1% during the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock worth $311,299,000 after acquiring an additional 2,936,066 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reduced their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Mizuho reduced their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Susquehanna cut their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Finally, Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $121.33.

ConocoPhillips Stock Up 1.0%

Shares of ConocoPhillips stock opened at $98.04 on Wednesday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a market capitalization of $123.93 billion, a PE ratio of 12.46, a P/E/G ratio of 2.53 and a beta of 0.61. 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 $91.44 and a 200-day moving average of $94.28.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter last year, the firm earned $2.05 EPS. As a group, equities analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared 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 of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.18%. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

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.