Quilter Plc Reduces Stake in ConocoPhillips (NYSE:COP)

Quilter Plc reduced its position in ConocoPhillips (NYSE:COP) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 25,369 shares of the energy producer’s stock after selling 1,741 shares during the period. Quilter Plc’s holdings in ConocoPhillips were worth $2,516,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB increased its position in ConocoPhillips by 4.7% during the third quarter. AMF Tjanstepension AB now owns 1,163,724 shares of the energy producer’s stock worth $122,628,000 after buying an additional 52,334 shares in the last quarter. Brookstone Capital Management increased its position in ConocoPhillips by 12.7% during the third quarter. Brookstone Capital Management now owns 8,472 shares of the energy producer’s stock worth $892,000 after buying an additional 957 shares in the last quarter. CWM LLC increased its position in ConocoPhillips by 6.4% during the third quarter. CWM LLC now owns 46,650 shares of the energy producer’s stock worth $4,911,000 after buying an additional 2,805 shares in the last quarter. Mechanics Bank Trust Department increased its position in ConocoPhillips by 2.0% during the third quarter. Mechanics Bank Trust Department now owns 15,470 shares of the energy producer’s stock worth $1,629,000 after buying an additional 299 shares in the last quarter. Finally, Cardinal Capital Management Inc. grew its position in shares of ConocoPhillips by 0.5% in the third quarter. Cardinal Capital Management Inc. now owns 123,884 shares of the energy producer’s stock valued at $13,043,000 after purchasing an additional 594 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $98.34 on Monday. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The stock has a 50 day moving average of $101.05 and a 200-day moving average of $106.15. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36. The firm has a market cap of $113.18 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.77 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, analysts forecast that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Morgan Stanley initiated coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Wells Fargo & Company reduced their target price on ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $135.89.

ConocoPhillips Company 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.