ConocoPhillips $COP Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 3rd quarter, Holdings Channel reports. The firm owned 2,314,517 shares of the energy producer’s stock after selling 13,934 shares during the quarter. Rhumbline Advisers’ holdings in ConocoPhillips were worth $218,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Howard Hughes Medical Institute acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at about $25,000. Cloud Capital Management LLC purchased a new position in ConocoPhillips during the third quarter valued at $26,000. Bogart Wealth LLC boosted its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management raised its stake in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 232 shares during the last quarter. Finally, Cedar Mountain Advisors LLC boosted its position in ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock worth $30,000 after acquiring an additional 116 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $107.50 on Wednesday. The company’s 50 day simple moving average is $97.24 and its 200-day simple moving average is $93.89. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.14 and a current ratio of 1.30. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $108.89. The company has a market capitalization of $132.84 billion, a price-to-earnings ratio of 16.96 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the previous year, the business posted $1.98 EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. ConocoPhillips’s payout ratio is presently 53.00%.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. The trade was a 60.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on COP shares. Wolfe Research lifted their price objective on ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Morgan Stanley lowered their price target on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Mizuho raised their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. BMO Capital Markets boosted their target price on shares of ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Seventeen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.78.

About ConocoPhillips

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.