ConocoPhillips $COP Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in ConocoPhillips by 14.2% in Q1, holding 52,884 shares worth approximately $5.55 million after selling 8,727 shares.
• Several analysts have given ConocoPhillips an average target price of $120.86 with a consensus rating of "Moderate Buy," while Wells Fargo raised their target price to $117.00.
• ConocoPhillips recently reported a quarterly earnings per share of $1.42, exceeding expectations and a revenue of $14.94 billion, marking a year-over-year increase of 4.3%.

Intech Investment Management LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 14.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,884 shares of the energy producer's stock after selling 8,727 shares during the period. Intech Investment Management LLC's holdings in ConocoPhillips were worth $5,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Focus Partners Wealth increased its holdings in ConocoPhillips by 36.2% in the first quarter. Focus Partners Wealth now owns 128,601 shares of the energy producer's stock valued at $13,506,000 after buying an additional 34,195 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in ConocoPhillips during the first quarter worth about $169,000. Integrity Alliance LLC. boosted its position in ConocoPhillips by 146.7% during the first quarter. Integrity Alliance LLC. now owns 9,023 shares of the energy producer's stock worth $948,000 after acquiring an additional 5,366 shares during the last quarter. Ransom Advisory Ltd acquired a new position in ConocoPhillips during the first quarter worth about $842,000. Finally, Advisory Alpha LLC boosted its position in ConocoPhillips by 4.3% during the first quarter. Advisory Alpha LLC now owns 15,882 shares of the energy producer's stock worth $1,668,000 after acquiring an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup reduced their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Mizuho reduced their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday. Susquehanna reduced their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Scotiabank lifted their target price on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $120.62.

ConocoPhillips Stock Up 2.4%

COP stock traded up $2.18 during midday trading on Tuesday, hitting $94.51. The company's stock had a trading volume of 4,860,777 shares, compared to its average volume of 7,905,450. The firm has a 50-day simple moving average of $94.74 and a 200-day simple moving average of $92.88. The firm has a market capitalization of $118.04 billion, a P/E ratio of 12.69, a PEG ratio of 2.43 and a beta of 0.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $14.94 billion for the quarter, compared to analysts' expectations of $14.39 billion. During the same period last year, the firm earned $1.98 earnings per share. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts forecast 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 Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 41.88%.

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.