Fiduciary Alliance LLC Sells 6,836 Shares of ConocoPhillips (NYSE:COP)

Fiduciary Alliance LLC reduced its position in ConocoPhillips (NYSE:COP - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 179,699 shares of the energy producer's stock after selling 6,836 shares during the period. ConocoPhillips accounts for about 1.9% of Fiduciary Alliance LLC's portfolio, making the stock its 8th largest position. Fiduciary Alliance LLC's holdings in ConocoPhillips were worth $18,872,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 13.8% in the 4th 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 last quarter. Invesco Ltd. raised its position in shares of ConocoPhillips by 37.1% in the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ConocoPhillips by 13.7% in the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after purchasing an additional 2,971,661 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Barclays reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a research report on Friday. Scotiabank reduced their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Finally, Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research report on Wednesday, May 14th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.63.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $1.20 during trading on Tuesday, hitting $87.92. 5,639,654 shares of the stock traded hands, compared to its average volume of 7,392,956. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $111.15 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.79 and a beta of 0.64. The company has a fifty day moving average price of $90.13 and a two-hundred day moving average price of $97.05. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.55%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is presently 39.64%.

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.