PKO Investment Management Joint Stock Co Sells 7,300 Shares of ConocoPhillips (NYSE:COP)

PKO Investment Management Joint Stock Co trimmed its position in ConocoPhillips (NYSE:COP - Free Report) by 17.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,819 shares of the energy producer's stock after selling 7,300 shares during the period. PKO Investment Management Joint Stock Co's holdings in ConocoPhillips were worth $3,657,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips in the 4th quarter worth about $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC bought a new stake in ConocoPhillips in the 4th quarter valued at about $36,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on COP shares. Susquehanna dropped their target price on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a research report on Monday, May 12th. Citigroup lowered their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Royal Bank of Canada lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, UBS Group dropped their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Three 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.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average target price of $121.30.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

COP traded up $0.54 during trading on Tuesday, hitting $95.54. 9,465,584 shares of the company traded hands, compared to its average volume of 7,505,083. The stock's 50-day simple moving average is $89.16 and its two-hundred day simple moving average is $95.70. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a market cap of $120.78 billion, a PE ratio of 12.26, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. During the same period in the prior year, the company earned $2.05 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's payout ratio is 39.64%.

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.