DT Investment Partners LLC Reduces Position in ConocoPhillips (NYSE:COP)

DT Investment Partners LLC lessened its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 31.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,557 shares of the energy producer's stock after selling 7,930 shares during the quarter. DT Investment Partners LLC's holdings in ConocoPhillips were worth $1,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC boosted its stake in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after buying an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. boosted its stake in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after buying an additional 30,000 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after buying an additional 54,900 shares in the last quarter. Finally, ORG Wealth Partners LLC boosted its stake in ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after buying an additional 5,922 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 3.4%

Shares of ConocoPhillips stock traded up $3.16 during midday trading on Tuesday, reaching $95.71. 8,956,770 shares of the company's stock traded hands, compared to its average volume of 7,614,193. The stock has a 50 day moving average of $90.22 and a 200-day moving average of $94.78. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The company has a market cap of $120.99 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.53 and a beta of 0.61. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $15.74 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.26%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on COP. Susquehanna cut their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. Raymond James Financial reaffirmed an "outperform" rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Morgan Stanley upped their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group lowered their price objective on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.80.

ConocoPhillips Company Profile

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.