Madison Asset Management LLC Sells 3,882 Shares of ConocoPhillips (NYSE:COP)

Madison Asset Management LLC cut its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,527 shares of the energy producer's stock after selling 3,882 shares during the period. Madison Asset Management LLC's holdings in ConocoPhillips were worth $25,680,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $26,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $28,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. Fourth Dimension Wealth LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $39,000. Finally, MorganRosel Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $42,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 0.7%

Shares of NYSE:COP traded down $0.66 during midday trading on Friday, hitting $94.96. 4,485,886 shares of the stock traded hands, compared to its average volume of 8,252,787. The stock has a market capitalization of $120.04 billion, a PE ratio of 12.07, a P/E/G ratio of 2.47 and a beta of 0.61. The business's 50 day moving average is $91.09 and its two-hundred day moving average is $94.43. 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 one year low of $79.88 and a one year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating 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 company 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. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on COP. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Bank of America decreased their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. UBS Group raised their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Raymond James Financial raised their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.33.

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.