Bank of New York Mellon Corp Sells 818,855 Shares of ConocoPhillips (NYSE:COP)

Bank of New York Mellon Corp lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,068,258 shares of the energy producer's stock after selling 818,855 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of ConocoPhillips worth $1,162,388,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of 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 valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Capital International Investors grew its holdings in ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares during the period. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% during the fourth 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 period. Finally, Invesco Ltd. grew 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 during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Citigroup reduced their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.80.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by insiders.

ConocoPhillips Stock Performance

COP stock traded down $0.16 during trading hours on Friday, reaching $94.28. The stock had a trading volume of 4,331,501 shares, compared to its average volume of 7,614,130. The stock has a market capitalization of $119.19 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The stock has a 50-day simple moving average of $90.23 and a 200 day simple moving average of $94.81. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the company posted $2.05 earnings per share. Analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

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.