Rhumbline Advisers Cuts Stake in ConocoPhillips (NYSE:COP)

Rhumbline Advisers decreased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,345,218 shares of the energy producer's stock after selling 74,420 shares during the quarter. Rhumbline Advisers owned about 0.19% of ConocoPhillips worth $246,295,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Capital International Investors grew its stake in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after buying an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.0%

Shares of COP stock traded down $0.02 on Thursday, reaching $85.93. 1,791,663 shares of the stock were exchanged, compared to its average volume of 7,370,677. The stock has a market cap of $108.63 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $89.50 and a two-hundred day moving average of $96.91. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business 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 firm posted $2.05 EPS. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

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 dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. ConocoPhillips's payout ratio is 39.64%.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. Wells Fargo & Company decreased their target price on ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their target price on ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Barclays decreased their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a report on Friday, April 11th. Finally, Morgan Stanley lifted their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $121.63.

ConocoPhillips 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.