Chevy Chase Trust Holdings LLC Reduces Holdings in ConocoPhillips (NYSE:COP)

Chevy Chase Trust Holdings LLC cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 739,153 shares of the energy producer's stock after selling 7,812 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of ConocoPhillips worth $77,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Keystone Financial Services increased its position in shares of ConocoPhillips by 8.9% during the first quarter. Keystone Financial Services now owns 5,588 shares of the energy producer's stock worth $587,000 after purchasing an additional 458 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new position in ConocoPhillips in the 1st quarter worth approximately $206,000. Asset Management One Co. Ltd. boosted its holdings in shares of ConocoPhillips by 7.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 555,648 shares of the energy producer's stock worth $58,354,000 after purchasing an additional 36,277 shares during the last quarter. XML Financial LLC grew its position in shares of ConocoPhillips by 13.9% in the first quarter. XML Financial LLC now owns 12,510 shares of the energy producer's stock valued at $1,314,000 after purchasing an additional 1,529 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of ConocoPhillips by 20.9% during the 1st quarter. JFS Wealth Advisors LLC now owns 1,645 shares of the energy producer's stock valued at $173,000 after acquiring an additional 284 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COP shares. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley increased their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 14th. Barclays dropped their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their price target on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.30.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.24% of the company's stock.

ConocoPhillips Trading Down 0.3%

Shares of ConocoPhillips stock traded down $0.27 during trading hours on Wednesday, reaching $89.12. 8,366,434 shares of the company's stock were exchanged, compared to its average volume of 7,511,040. The firm has a market capitalization of $112.66 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. 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 has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a fifty day moving average of $89.84 and a 200-day moving average of $95.28.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.50%. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.