Comerica Bank Has $51.34 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Comerica Bank cut its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 517,734 shares of the energy producer's stock after selling 8,078 shares during the period. Comerica Bank's holdings in ConocoPhillips were worth $51,344,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of ConocoPhillips by 401.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock valued at $438,690,000 after purchasing an additional 3,541,504 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on COP shares. UBS Group decreased their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $116.00 target price on shares of ConocoPhillips in a report on Tuesday, April 15th. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Susquehanna set a $136.00 price target on shares of ConocoPhillips in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $124.79.

ConocoPhillips Trading Up 0.9 %

Shares of NYSE COP traded up $0.81 during mid-day trading on Friday, hitting $91.46. The company's stock had a trading volume of 6,895,414 shares, compared to its average volume of 7,172,778. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market cap of $115.62 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. The company's fifty day simple moving average is $93.78 and its 200-day simple moving average is $100.03. ConocoPhillips has a one year low of $79.88 and a one year high of $125.22.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips's payout ratio is 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.