The Manufacturers Life Insurance Company Has $229.39 Million Stock Holdings in ConocoPhillips (NYSE:COP)

The Manufacturers Life Insurance Company trimmed its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,313,110 shares of the energy producer's stock after selling 176,404 shares during the period. The Manufacturers Life Insurance Company owned 0.20% of ConocoPhillips worth $229,391,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. TD Cowen started coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. UBS Group reduced their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $124.79.

ConocoPhillips Trading Up 1.8 %

Shares of COP stock traded up $1.59 during mid-day trading on Thursday, reaching $90.71. 8,027,447 shares of the stock traded hands, compared to its average volume of 7,175,847. The stock's fifty day simple moving average is $94.05 and its two-hundred day simple moving average is $100.26. The company has a market cap of $114.67 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83. ConocoPhillips has a 1-year low of $79.88 and a 1-year 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.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data 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%. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio is presently 40.05%.

About ConocoPhillips

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.