ConocoPhillips (NYSE:COP) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 17.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,454 shares of the energy producer's stock after selling 27,459 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in ConocoPhillips were worth $14,015,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COP. State of Alaska Department of Revenue lifted its stake in ConocoPhillips by 0.8% in the first quarter. State of Alaska Department of Revenue now owns 256,021 shares of the energy producer's stock worth $26,886,000 after purchasing an additional 2,035 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of ConocoPhillips by 59.7% in the first quarter. CWA Asset Management Group LLC now owns 5,587 shares of the energy producer's stock worth $587,000 after buying an additional 2,089 shares during the period. Cadent Capital Advisors LLC lifted its stake in shares of ConocoPhillips by 4.3% during the 1st quarter. Cadent Capital Advisors LLC now owns 4,426 shares of the energy producer's stock worth $465,000 after acquiring an additional 184 shares during the last quarter. JBR Co Financial Management Inc purchased a new position in ConocoPhillips during the 1st quarter valued at $203,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in ConocoPhillips by 7.5% during the 1st quarter. Cornerstone Wealth Management LLC now owns 14,989 shares of the energy producer's stock valued at $1,574,000 after acquiring an additional 1,040 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president now directly owns 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on COP shares. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Bank of America reduced their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. UBS Group lowered their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Barclays reduced their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Piper Sandler decreased their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $121.30.

ConocoPhillips Stock Up 1.0%

ConocoPhillips stock traded up $0.96 during trading hours on Friday, reaching $94.76. The stock had a trading volume of 16,015,615 shares, compared to its average volume of 7,568,103. The company has a market cap of $119.79 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 2.54 and a beta of 0.61. The business's 50 day moving average price is $89.65 and its 200-day moving average price is $95.52. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the previous year, the business posted $2.05 EPS. Sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued 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 dividend yield of 3.29%. ConocoPhillips's dividend payout ratio is presently 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.