Naviter Wealth LLC Trims Position in ConocoPhillips (NYSE:COP)

Naviter Wealth LLC lessened its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,280 shares of the energy producer's stock after selling 4,922 shares during the period. Naviter Wealth LLC's holdings in ConocoPhillips were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of COP. Murphy & Mullick Capital Management Corp purchased a new stake in ConocoPhillips in the 4th quarter valued at about $26,000. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter valued at about $32,000. Garde Capital Inc. purchased a new stake in ConocoPhillips in the 1st quarter valued at about $35,000. Finally, Rakuten Securities Inc. raised its holdings in ConocoPhillips by 222.0% in the 4th quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock valued at $38,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on COP. Bank of America reduced their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Mizuho cut their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $121.50.

Insider Activity

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was acquired 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. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP opened at $90.20 on Friday. The stock has a 50 day moving average price of $89.96 and a 200 day moving average price of $95.02. 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 market capitalization of $114.03 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40.

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 analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the company posted $2.05 earnings per share. Research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Monday, May 19th. ConocoPhillips's payout ratio is currently 39.64%.

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.

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