ConocoPhillips (NYSE:COP) Shares Sold by DT Investment Partners LLC

DT Investment Partners LLC decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $26,000. 10Elms LLP acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $28,000. Crowley Wealth Management Inc. acquired a new stake in shares of ConocoPhillips in the fourth quarter valued at $32,000. Garde Capital Inc. acquired a new stake in shares of ConocoPhillips in the first quarter valued at $35,000. Finally, Rakuten Securities Inc. grew its stake in shares of ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after buying an additional 262 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their price objective on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Citigroup decreased their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Susquehanna decreased their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Finally, Bank of America decreased their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.80.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $1.70 on Monday, hitting $91.98. The stock had a trading volume of 3,427,408 shares, compared to its average volume of 8,521,044. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a market cap of $116.28 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 2.53 and a beta of 0.61. The company's 50 day moving average price is $90.23 and its 200 day moving average price is $94.80.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $2.05 EPS. On average, research analysts anticipate 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 Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is currently 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.