Bank Julius Baer & Co. Ltd Zurich Has $136.46 Million Stock Holdings in ConocoPhillips $COP

Key Points

• Bank Julius Baer cut its ConocoPhillips stake by 21.5% in the fourth quarter, though it still held 1.46 million shares worth about $136.46 million at the end of the period.
• ConocoPhillips reported better-than-expected earnings for the latest quarter, posting $1.89 EPS versus the $1.72 estimate, with revenue of $15.76 billion also slightly ahead of forecasts.
• The company declared a quarterly dividend of $0.84 per share, implying a 2.9% annualized yield, while analysts currently rate the stock Moderate Buy with an average price target of $132.84.

Bank Julius Baer & Co. Ltd Zurich trimmed its position in ConocoPhillips (NYSE:COP - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,456,881 shares of the energy producer's stock after selling 400,067 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned 0.12% of ConocoPhillips worth $136,463,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of COP. AXA S.A. grew its holdings in shares of ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. grew its holdings in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock worth $70,397,000 after purchasing an additional 44,852 shares in the last quarter. BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth $151,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock worth $431,000 after purchasing an additional 1,675 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP stock opened at $117.35 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87. The company has a market cap of $142.97 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.64 and a beta of 0.14. The business has a fifty day simple moving average of $122.93 and a 200 day simple moving average of $105.92.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 9.62 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COP shares. Wells Fargo & Company increased their target price on ConocoPhillips from $132.00 to $133.00 and gave the stock an "overweight" rating in a report on Friday, February 6th. Jefferies Financial Group upped their price objective on ConocoPhillips from $129.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Argus upped their price objective on ConocoPhillips from $111.00 to $128.00 and gave the stock a "strong-buy" rating in a research report on Friday, February 13th. Morgan Stanley upped their price objective on ConocoPhillips from $108.00 to $149.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 28th. Finally, Mizuho upped their price objective on ConocoPhillips from $121.00 to $136.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $132.84.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at approximately $869,822.10. This trade represents a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy A. Leach sold 40,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the transaction, the director owned 411,211 shares of the company's stock, valued at $48,847,754.69. This represents a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by corporate insiders.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.