Natixis Advisors LLC Cuts Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Natixis Advisors LLC reduced its stake in ConocoPhillips by 2.0%, owning approximately 1.6 million shares valued at $167.85 million post-sale.
• ConocoPhillips has received a consensus rating of "Moderate Buy" from analysts, with an average target price of $121.33.
• The company recently announced a quarterly dividend of $0.78 per share, reflecting an annualized dividend yield of 3.18%.

Natixis Advisors LLC reduced its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598,265 shares of the energy producer's stock after selling 33,016 shares during the period. Natixis Advisors LLC owned 0.13% of ConocoPhillips worth $167,850,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in COP. 10Elms LLP bought a new stake in ConocoPhillips in the fourth quarter worth about $28,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter worth about $35,000. IMA Advisory Services Inc. bought a new stake in ConocoPhillips in the first quarter worth about $37,000. Fourth Dimension Wealth LLC bought a new stake in ConocoPhillips in the fourth quarter worth about $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in ConocoPhillips in the first quarter worth about $42,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP traded down $1.35 during mid-day trading on Thursday, hitting $95.32. 5,648,062 shares of the stock traded hands, compared to its average volume of 5,351,251. The business's 50-day moving average price is $91.82 and its 200 day moving average price is $94.23. The company has a market cap of $120.50 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 2.52 and a beta of 0.61. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on COP shares. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. UBS Group lifted their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Barclays reduced their target price 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. Morgan Stanley reiterated an "overweight" rating and issued a $119.00 target price on shares of ConocoPhillips in a research note on Tuesday, July 15th. Finally, 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. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.33.

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.