ConocoPhillips (NYSE:COP) Stock Position Lowered by KBC Group NV

KBC Group NV trimmed its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 23.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 283,049 shares of the energy producer's stock after selling 87,034 shares during the period. KBC Group NV's holdings in ConocoPhillips were worth $29,726,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter valued at $26,000. 10Elms LLP acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips in the 4th quarter valued at about $32,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips in the first quarter worth approximately $35,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after purchasing an additional 262 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Susquehanna dropped their price objective on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research note on Monday, May 12th. Morgan Stanley upped their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut their price objective on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Royal Bank Of Canada lowered their target price on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.50.

ConocoPhillips Trading Down 0.8%

NYSE:COP opened at $90.20 on Monday. The company's 50 day moving average is $89.96 and its 200-day moving average is $94.98. 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 has a 12 month low of $79.88 and a 12 month high of $118.40. The firm has a market cap of $114.03 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 2.44 and a beta of 0.61.

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, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the firm posted $2.05 EPS. Equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.46%. ConocoPhillips's payout ratio is 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company's stock.

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.

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.