ConocoPhillips $COP Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of ConocoPhillips (NYSE:COP) by 12.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,094 shares of the energy producer’s stock after selling 33,970 shares during the period. ProShare Advisors LLC’s holdings in ConocoPhillips were worth $23,183,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in COP. Charles Schwab Investment Management Inc. increased its position in shares of ConocoPhillips by 0.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after purchasing an additional 287,970 shares in the last quarter. Fisher Asset Management LLC boosted its stake in ConocoPhillips by 1.6% during the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock worth $1,291,706,000 after purchasing an additional 224,201 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after buying an additional 2,575,803 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of ConocoPhillips by 66.0% during the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after buying an additional 3,135,315 shares in the last quarter. Finally, Boston Partners raised its position in shares of ConocoPhillips by 4.0% in the second quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock valued at $577,471,000 after buying an additional 244,810 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.1%

Shares of NYSE COP opened at $107.50 on Wednesday. The company has a market capitalization of $132.84 billion, a P/E ratio of 16.96 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The company has a 50 day simple moving average of $97.24 and a 200-day simple moving average of $93.89. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $108.89.

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

ConocoPhillips Dividend Announcement

The firm also recently declared 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. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is 53.00%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Mizuho boosted their price target 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. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Jefferies Financial Group restated a “buy” rating on shares of ConocoPhillips in a research report on Monday, December 15th. Susquehanna increased their price target on ConocoPhillips from $115.00 to $121.00 and gave the company a “positive” rating in a report on Friday, February 6th. Finally, Citigroup lifted their price objective on ConocoPhillips from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Seventeen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.78.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Company Profile

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.