ConocoPhillips (NYSE:COP) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 4.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 166,122 shares of the energy producer's stock after selling 7,111 shares during the quarter. Mutual of America Capital Management LLC's holdings in ConocoPhillips were worth $17,446,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Second Line Capital LLC increased its position in shares of ConocoPhillips by 2.2% during the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after purchasing an additional 108 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in ConocoPhillips by 1.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after acquiring an additional 110 shares during the period. LRI Investments LLC raised its stake in ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after buying an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after purchasing an additional 118 shares during the last quarter. Finally, Northeast Financial Consultants Inc boosted its position in ConocoPhillips by 2.9% during the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock valued at $432,000 after purchasing an additional 122 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COP shares. Raymond James Financial increased their target price on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research report on Tuesday, July 22nd. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Susquehanna reduced their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Finally, Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.63.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $1.31 during trading on Friday, reaching $93.91. 8,764,610 shares of the company's stock traded hands, compared to its average volume of 8,188,288. The firm has a market cap of $118.72 billion, a PE ratio of 11.93, a P/E/G ratio of 2.42 and a beta of 0.67. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The company has a 50-day simple moving average of $92.59 and a 200-day simple moving average of $93.80.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. ConocoPhillips's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.98 earnings per share. As a group, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's payout ratio is currently 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by corporate insiders.

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.