ConocoPhillips (NYSE:COP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 401,605 shares of the energy producer's stock after selling 11,827 shares during the period. Fifth Third Bancorp's holdings in ConocoPhillips were worth $42,177,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Simon Quick Advisors LLC grew its stake in shares of ConocoPhillips by 18.8% during the first quarter. Simon Quick Advisors LLC now owns 6,763 shares of the energy producer's stock valued at $710,000 after acquiring an additional 1,068 shares in the last quarter. Laurel Wealth Advisors LLC grew its stake in ConocoPhillips by 2.3% in the first quarter. Laurel Wealth Advisors LLC now owns 11,127 shares of the energy producer's stock worth $1,169,000 after purchasing an additional 248 shares in the last quarter. Focus Financial Network Inc. grew its stake in ConocoPhillips by 2.9% in the first quarter. Focus Financial Network Inc. now owns 5,217 shares of the energy producer's stock worth $548,000 after purchasing an additional 147 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in ConocoPhillips by 19.4% in the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 4,692 shares of the energy producer's stock worth $493,000 after purchasing an additional 761 shares in the last quarter. Finally, Alhambra Investment Management LLC grew its stake in ConocoPhillips by 9.9% in the first quarter. Alhambra Investment Management LLC now owns 3,093 shares of the energy producer's stock worth $325,000 after purchasing an additional 278 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP traded up $2.31 during midday trading on Friday, hitting $97.00. 16,786,406 shares of the stock were exchanged, compared to its average volume of 7,485,831. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a market capitalization of $122.63 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The business has a 50-day moving average price of $88.91 and a two-hundred day moving average price of $95.79. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

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 return on equity of 17.26% and a net margin of 16.23%. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.22%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Wells Fargo & Company decreased their price target on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Scotiabank decreased their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research note on Friday, April 11th. Morgan Stanley raised their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. JPMorgan Chase & Co. cut their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Susquehanna cut their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.30.

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.