Barings LLC Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Barings LLC reduced its stake in ConocoPhillips by 13.4%, owning 88,102 shares worth approximately $9.25 million as of the latest SEC filing.
• ConocoPhillips recently reported $2.09 EPS for the quarter, beating analysts' estimates, with revenues of $16.18 billion.
• The firm announced a quarterly dividend of $0.78 per share, representing a 3.4% dividend yield with a payout ratio of 39.64%.

Barings LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,102 shares of the energy producer's stock after selling 13,607 shares during the quarter. Barings LLC's holdings in ConocoPhillips were worth $9,252,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $28,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $35,000. IMA Advisory Services Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at approximately $37,000. Fourth Dimension Wealth LLC acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $39,000. Finally, MorganRosel Wealth Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth approximately $42,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 2.7%

COP traded down $2.59 on Friday, reaching $92.75. The company's stock had a trading volume of 6,348,613 shares, compared to its average volume of 5,734,546. The stock has a 50 day moving average of $91.97 and a two-hundred day moving average of $93.99. The company has a market capitalization of $117.25 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.41 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The company had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the business earned $2.05 EPS. As a group, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a research report on Tuesday, July 15th. Bank of America decreased their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Susquehanna reduced their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Finally, Barclays dropped their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $121.33.

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.