ConocoPhillips (NYSE:COP) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its holdings in ConocoPhillips (NYSE:COP - Free Report) by 28.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,014 shares of the energy producer's stock after selling 12,674 shares during the period. Bleakley Financial Group LLC's holdings in ConocoPhillips were worth $3,362,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter valued at about $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in ConocoPhillips in the 4th quarter valued at about $39,000. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on COP shares. Raymond James Financial reissued an "outperform" rating and issued a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a research report on Tuesday, May 20th. Mizuho lowered their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price objective on shares of ConocoPhillips in a research report on Tuesday. Citigroup lowered their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $122.70.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Down 1.5%

NYSE:COP traded down $1.46 during midday trading on Tuesday, reaching $92.71. 4,149,910 shares of the stock traded hands, compared to its average volume of 7,638,496. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The business has a 50-day moving average of $90.72 and a two-hundred day moving average of $94.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The stock has a market capitalization of $117.20 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%. ConocoPhillips's payout ratio is 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.