Rhumbline Advisers Sells 13,934 Shares of ConocoPhillips $COP

Rhumbline Advisers reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,314,517 shares of the energy producer’s stock after selling 13,934 shares during the period. Rhumbline Advisers owned about 0.19% of ConocoPhillips worth $218,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Howard Hughes Medical Institute purchased a new position in ConocoPhillips during the second quarter valued at approximately $25,000. Cloud Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at $26,000. Bogart Wealth LLC lifted its stake in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management lifted its stake in shares of ConocoPhillips by 249.5% during the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. Finally, Cedar Mountain Advisors LLC boosted its stake in shares of ConocoPhillips by 58.0% in 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 period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $107.50 on Wednesday. The business has a fifty day moving average of $97.24 and a 200 day moving average of $93.89. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The stock has a market cap of $132.84 billion, a P/E ratio of 16.96 and a beta of 0.32. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $108.89.

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

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors 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 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio is 53.00%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the transaction, the chief executive officer directly owned 325,972 shares in the company, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Monday, December 15th. Johnson Rice lowered ConocoPhillips from an “accumulate” rating to a “hold” rating and dropped their price target for the company from $108.00 to $105.00 in a research note on Friday, December 5th. Capital One Financial raised their price target on ConocoPhillips from $111.00 to $116.00 and gave the company an “equal weight” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.