Carret Asset Management LLC Sells 18,388 Shares of ConocoPhillips (NYSE:COP)

Carret Asset Management LLC lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 42.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,285 shares of the energy producer's stock after selling 18,388 shares during the period. Carret Asset Management LLC's holdings in ConocoPhillips were worth $2,655,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the period. Invesco Ltd. lifted its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC lifted its position in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after buying an additional 2,971,661 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 1.0%

Shares of NYSE COP traded up $0.96 during trading hours on Friday, reaching $94.76. The stock had a trading volume of 16,015,615 shares, compared to its average volume of 7,489,673. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The firm has a market cap of $119.79 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 2.56 and a beta of 0.61. The business's fifty day moving average price is $89.65 and its two-hundred day moving average price is $95.46. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. Analysts expect 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. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. ConocoPhillips's payout ratio is currently 39.64%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. Royal Bank Of Canada reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Scotiabank decreased their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler dropped their target price on ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $121.30.

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.