Bryn Mawr Capital Management LLC Sells 17,252 Shares of ConocoPhillips (NYSE:COP)

Bryn Mawr Capital Management LLC lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,528 shares of the energy producer's stock after selling 17,252 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in ConocoPhillips were worth $12,973,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its stake in ConocoPhillips by 21.3% during the 4th quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer's stock valued at $1,461,000 after acquiring an additional 2,591 shares in the last quarter. Greenwich Wealth Management LLC grew its stake in ConocoPhillips by 21.3% during the 4th quarter. Greenwich Wealth Management LLC now owns 2,598 shares of the energy producer's stock valued at $258,000 after acquiring an additional 457 shares in the last quarter. Corient Private Wealth LLC grew its stake in ConocoPhillips by 0.4% during the 4th quarter. Corient Private Wealth LLC now owns 726,315 shares of the energy producer's stock valued at $68,645,000 after acquiring an additional 3,077 shares in the last quarter. Harbour Investments Inc. grew its stake in ConocoPhillips by 26.6% during the 4th quarter. Harbour Investments Inc. now owns 16,632 shares of the energy producer's stock valued at $1,649,000 after acquiring an additional 3,491 shares in the last quarter. Finally, Glenview Trust co grew its stake in ConocoPhillips by 3.8% during the 4th quarter. Glenview Trust co now owns 22,905 shares of the energy producer's stock valued at $2,271,000 after acquiring an additional 840 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada dropped their price objective on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday. Susquehanna dropped their price objective on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a research report on Tuesday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.70.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased 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 in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP traded down $1.46 during mid-day trading on Tuesday, hitting $92.71. The company's stock had a trading volume of 4,149,910 shares, compared to its average volume of 7,648,581. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. 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 firm has a market capitalization of $117.20 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The stock's 50-day moving average is $90.72 and its two-hundred day moving average is $94.72.

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 for the quarter, beating 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 during the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.37%. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

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.