Atalanta Sosnoff Capital LLC Lowers Position in ConocoPhillips (NYSE:COP)

Atalanta Sosnoff Capital LLC trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 417,259 shares of the energy producer's stock after selling 45,019 shares during the period. Atalanta Sosnoff Capital LLC's holdings in ConocoPhillips were worth $41,380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Orrstown Financial Services Inc. grew its holdings in ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after purchasing an additional 96 shares during the period. Principle Wealth Partners LLC boosted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after purchasing an additional 100 shares in the last quarter. Arlington Trust Co LLC boosted its position in shares of ConocoPhillips by 1.2% during the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after purchasing an additional 102 shares in the last quarter. Courier Capital LLC grew its stake in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock valued at $2,031,000 after buying an additional 103 shares during the period. Finally, Gray Wealth Management Inc. increased its position in ConocoPhillips by 5.0% in the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after buying an additional 104 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on COP shares. Morgan Stanley restated an "overweight" rating and set a $116.00 price objective on shares of ConocoPhillips in a report on Tuesday, April 15th. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 target price for the company. UBS Group dropped their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Raymond James lowered ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Scotiabank dropped their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $124.79.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $3.80 during midday trading on Monday, reaching $87.61. The stock had a trading volume of 9,272,704 shares, compared to its average volume of 7,189,834. The firm has a market capitalization of $110.75 billion, a PE ratio of 11.25, a P/E/G ratio of 0.79 and a beta of 0.64. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $125.22. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average price is $93.61 and its 200 day moving average price is $99.83.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping 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, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

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.