ConocoPhillips (NYSE:COP) Shares Sold by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors reduced its stake in shares of ConocoPhillips (NYSE:COP) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,597 shares of the energy producer’s stock after selling 373 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in ConocoPhillips were worth $695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Nuveen LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at about $658,981,000. Price T Rowe Associates Inc. MD lifted 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. Northern Trust Corp increased its stake in ConocoPhillips by 27.6% in 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 purchasing an additional 2,971,661 shares during the period. Finally, GAMMA Investing LLC increased its stake in ConocoPhillips by 10,440.1% in the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock valued at $311,299,000 after purchasing an additional 2,936,066 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on COP. Bank of America dropped their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Scotiabank lifted their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Raymond James Financial lifted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $120.84.

Insider Activity

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Down 0.4%

COP stock opened at $93.56 on Tuesday. The company has a market cap of $116.85 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.44 and a beta of 0.67. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $116.08. The company’s 50-day moving average price is $92.91 and its 200 day moving average price is $93.53. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

ConocoPhillips 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.