Madison Asset Management LLC Has $10.97 Million Stock Holdings in ConocoPhillips $COP

Key Points

• Madison Asset Management cut its ConocoPhillips stake by 46.9% in the fourth quarter, leaving it with 117,200 shares valued at about $10.97 million.
• Insider selling was notable, with EVP Nicholas G. Olds and SVP Andrew D. Lundquist both selling large blocks of stock; company insiders have sold 734,891 shares worth $93.3 million over the past three months.
• Analysts remain broadly positive on COP, with an average “Moderate Buy” rating and a $132.84 price target, while the company also recently beat quarterly EPS and revenue estimates and declared a $0.84 quarterly dividend.

Madison Asset Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 46.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,200 shares of the energy producer's stock after selling 103,651 shares during the period. Madison Asset Management LLC's holdings in ConocoPhillips were worth $10,971,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in COP. AXA S.A. boosted its position in shares of ConocoPhillips by 91.1% during the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock worth $70,397,000 after acquiring an additional 44,852 shares in the last quarter. BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC boosted its position in ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock valued at $431,000 after buying an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity

In other news, EVP Nicholas G. Olds sold 14,522 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares of the company's stock, valued at approximately $1,478,751.04. This trade represents a 53.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm's stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company's stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on COP. Susquehanna raised their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Jefferies Financial Group raised their target price on shares of ConocoPhillips from $129.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, April 13th. Morgan Stanley raised their target price on shares of ConocoPhillips from $108.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Mizuho raised their target price on shares of ConocoPhillips from $121.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. Finally, Freedom Capital lowered shares of ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $132.84.

ConocoPhillips Price Performance

COP stock opened at $117.35 on Thursday. The company has a fifty day moving average price of $122.93 and a 200-day moving average price of $105.92. The company has a market capitalization of $142.97 billion, a P/E ratio of 19.92, a PEG ratio of 1.64 and a beta of 0.14. ConocoPhillips has a 52-week low of $84.28 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 9.62 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips's dividend payout ratio (DPR) is presently 57.05%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.