ConocoPhillips (NYSE:COP) Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 46.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,132 shares of the energy producer's stock after selling 11,547 shares during the quarter. Generali Investments Management Co LLC's holdings in ConocoPhillips were worth $1,379,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in ConocoPhillips by 13.8% in the fourth 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 purchasing an additional 5,549,078 shares during the period. Leavell Investment Management Inc. increased its position in ConocoPhillips by 59.8% during the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer's stock worth $1,901,000 after purchasing an additional 7,174 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 519,371 shares of the energy producer's stock worth $50,345,000 after buying an additional 54,196 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in shares of ConocoPhillips by 7.4% in the 4th quarter. New York State Teachers Retirement System now owns 1,170,901 shares of the energy producer's stock valued at $116,118,000 after buying an additional 80,199 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of ConocoPhillips by 26.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 43,384 shares of the energy producer's stock valued at $4,302,000 after buying an additional 9,002 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.8%

Shares of COP stock opened at $85.28 on Friday. The company has a market capitalization of $107.80 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $89.11 and a 200 day moving average price of $96.72. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the business posted $2.05 EPS. Research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. Raymond James reissued an "outperform" rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Royal Bank of Canada cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Piper Sandler lowered their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $121.63.

ConocoPhillips 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.

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.