Candriam S.C.A. Sells 15,736 Shares of ConocoPhillips $COP

Key Points

• Candriam S.C.A. reduced its stake in ConocoPhillips by 15.2%, selling 15,736 shares and retaining 87,755 shares, worth approximately $9.2 million at the close of the last quarter.
• Recent insider activity includes EVP Kirk L. Johnson purchasing 5,300 shares at an average price of $94.24, increasing his stake by 57.44%, valued at about $1.37 million.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, with a dividend yield of 3.3%, set to be paid on September 2nd.

Candriam S.C.A. trimmed its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,755 shares of the energy producer's stock after selling 15,736 shares during the period. Candriam S.C.A.'s holdings in ConocoPhillips were worth $9,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of COP. Second Line Capital LLC grew its position in ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after buying an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of ConocoPhillips by 1.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC boosted its position in shares of ConocoPhillips by 3.6% during the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. KLCM Advisors Inc. boosted its position in shares of ConocoPhillips by 2.6% during the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock valued at $473,000 after purchasing an additional 115 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after purchasing an additional 118 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COP shares. Roth Capital restated a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a research report on Thursday, August 7th. Raymond James Financial raised their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Bank of America reduced their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Finally, Melius initiated coverage on shares of ConocoPhillips in a research note on Wednesday. They set a "hold" rating and a $117.00 price objective for the company. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $120.95.

ConocoPhillips Stock Up 1.9%

Shares of NYSE COP traded up $1.8440 during mid-day trading on Friday, reaching $96.6240. The company had a trading volume of 6,338,392 shares, compared to its average volume of 6,881,362. The stock has a fifty day moving average of $93.80 and a two-hundred day moving average of $93.23. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $120.68 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 2.53 and a beta of 0.67. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.98 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio is 41.88%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company's stock.

About ConocoPhillips

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.