Manning & Napier Advisors LLC Sells 31,076 Shares of ConocoPhillips (NYSE:COP)

Manning & Napier Advisors LLC lowered its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 237,529 shares of the energy producer's stock after selling 31,076 shares during the quarter. Manning & Napier Advisors LLC's holdings in ConocoPhillips were worth $24,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of COP. Tallon Kerry Patrick acquired a new position in ConocoPhillips during the 4th quarter worth approximately $511,000. Global Retirement Partners LLC boosted its position in ConocoPhillips by 11.4% during the 4th quarter. Global Retirement Partners LLC now owns 9,580 shares of the energy producer's stock worth $950,000 after acquiring an additional 981 shares during the last quarter. Private Advisor Group LLC boosted its position in ConocoPhillips by 18.0% during the 4th quarter. Private Advisor Group LLC now owns 79,380 shares of the energy producer's stock worth $7,872,000 after acquiring an additional 12,103 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $27,000. Finally, Cassaday & Co Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 6.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,621 shares of the energy producer's stock valued at $458,000 after buying an additional 293 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $2.87 on Monday, hitting $91.82. The stock had a trading volume of 9,718,757 shares, compared to its average volume of 7,498,708. The stock has a market cap of $116.08 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. 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 twelve month low of $79.88 and a twelve month high of $118.40. The business's 50 day moving average is $89.65 and its two-hundred day moving average is $95.40.

ConocoPhillips (NYSE:COP - Get Free Report) last released 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 return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. Analysts forecast 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. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is 39.64%.

Analyst Ratings Changes

Several research firms have recently commented on COP. Scotiabank cut their price objective on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Royal Bank Of Canada cut their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Morgan Stanley increased their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Susquehanna cut their price objective on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.30.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction dated 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 completion of the acquisition, the executive vice president now owns 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

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.