Massachusetts Financial Services Co. MA Has $3.09 Billion Stock Holdings in ConocoPhillips (NYSE:COP)

Massachusetts Financial Services Co. MA reduced its position in ConocoPhillips (NYSE:COP) by 1.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,987,460 shares of the energy producer’s stock after selling 295,243 shares during the period. ConocoPhillips makes up about 0.9% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 15th largest position. Massachusetts Financial Services Co. MA’s holdings in ConocoPhillips were worth $3,086,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after purchasing an additional 3,127,165 shares during the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of ConocoPhillips by 46.0% during the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after buying an additional 1,015,158 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after buying an additional 826,529 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Wells Fargo & Company lowered their price target on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Raymond James restated a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Barclays increased their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Mizuho reduced their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Finally, Sanford C. Bernstein lowered their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Trading Up 0.6 %

Shares of COP stock opened at $103.50 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock’s fifty day moving average price is $110.16 and its two-hundred day moving average price is $116.73. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market cap of $121.05 billion, a PE ratio of 11.72, a P/E/G ratio of 0.78 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. Equities analysts predict that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

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.