ConocoPhillips (NYSE:COP) Shares Sold by Independent Advisor Alliance

Key Points

• Independent Advisor Alliance reduced its stake in ConocoPhillips by 2.9%, resulting in ownership of 88,961 shares valued at approximately $9.34 million.
• Several institutional investors, including Scotia Capital Inc. and Sterling Capital Management LLC, increased their positions in ConocoPhillips, indicating robust interest from large investors.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, contributing to an annualized dividend yield of 3.3%.

Independent Advisor Alliance cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,961 shares of the energy producer's stock after selling 2,699 shares during the period. Independent Advisor Alliance's holdings in ConocoPhillips were worth $9,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Nuveen LLC acquired a new stake in ConocoPhillips in the 1st quarter valued at about $658,981,000. Price T Rowe Associates Inc. MD raised its position in 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 in the last quarter. Northern Trust Corp raised its position in 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 in the last quarter. Finally, GAMMA Investing LLC raised its position in ConocoPhillips by 10,440.1% in the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock valued at $311,299,000 after purchasing an additional 2,936,066 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP traded up $1.01 during mid-day trading on Tuesday, hitting $94.54. 7,524,697 shares of the company's stock were exchanged, compared to its average volume of 6,269,311. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business's 50 day moving average is $93.04 and its two-hundred day moving average is $93.54. The firm has a market capitalization of $118.07 billion, a P/E ratio of 12.69, a P/E/G ratio of 2.43 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the previous year, the business posted $1.98 earnings per share. The business's revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's payout ratio is 41.88%.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on COP. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Bank of America reduced their price target on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Raymond James Financial upped their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $120.84.

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.