Oppenheimer Asset Management Inc. Trims Position in ConocoPhillips (NYSE:COP)

Oppenheimer Asset Management Inc. cut its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 167,751 shares of the energy producer's stock after selling 36,154 shares during the period. Oppenheimer Asset Management Inc.'s holdings in ConocoPhillips were worth $17,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the 4th quarter worth approximately $26,000. Centricity Wealth Management LLC acquired a new position in ConocoPhillips during the 4th quarter worth approximately $27,000. 10Elms LLP acquired a new position in ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the 4th quarter worth approximately $32,000. Finally, Garde Capital Inc. acquired a new position in ConocoPhillips during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on COP shares. Morgan Stanley boosted their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Barclays dropped their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Finally, Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Price Performance

NYSE:COP traded down $2.31 during trading hours on Tuesday, reaching $89.41. 11,013,890 shares of the company traded hands, compared to its average volume of 7,507,563. The firm's 50-day moving average is $89.84 and its 200-day moving average is $95.28. The stock has a market cap of $113.02 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.48 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the firm earned $2.05 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 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.