Capital World Investors Has $486.63 Million Stock Position in ConocoPhillips $COP

Key Points

• Capital World Investors cut its ConocoPhillips stake by 23% in the fourth quarter, selling 1.55 million shares and ending with 5.2 million shares worth about $486.6 million.
• ConocoPhillips reported better-than-expected quarterly earnings, posting $1.89 EPS versus $1.72 expected and revenue of $15.76 billion versus $15.62 billion estimated, though revenue fell 6.1% year over year.
• Analyst sentiment remains constructive: the stock has a Moderate Buy consensus, with 17 Buy ratings, and the company recently paid a quarterly dividend of $0.84 per share for a 2.9% yield.

Capital World Investors lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 23.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,198,516 shares of the energy producer's stock after selling 1,553,762 shares during the quarter. Capital World Investors owned about 0.42% of ConocoPhillips worth $486,634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of COP. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the third quarter worth $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $28,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $28,000. BNP Paribas acquired a new stake in shares of ConocoPhillips during the second quarter worth $33,000. Finally, Optima Capital LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth $34,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their target price on ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Scotiabank boosted their price target on ConocoPhillips from $100.00 to $125.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Wall Street Zen raised ConocoPhillips from a "sell" rating to a "hold" rating in a research note on Saturday, March 7th. Susquehanna boosted their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, Jefferies Financial Group boosted their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a research note on Monday, May 18th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $134.48.

ConocoPhillips Stock Down 0.0%

COP stock opened at $117.10 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market cap of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The business has a 50-day simple moving average of $122.08 and a 200 day simple moving average of $109.58.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Sell-side analysts anticipate that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips's payout ratio is presently 57.05%.

Insider Activity

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the transaction, the senior vice president owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of the business's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares of the company's stock, valued at approximately $677,747.84. The trade was a 31.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 686,391 shares of company stock valued at $87,590,752. Corporate insiders own 0.09% of the company's stock.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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