Russell Investments Group Ltd. Sells 133,511 Shares of ConocoPhillips (NYSE:COP)

Key Points

• Russell Investments Group Ltd. has reduced its stake in ConocoPhillips by 9.3%, selling 133,511 shares and now holds approximately 1.29 million shares valued at $136 million.
• ConocoPhillips reported $1.42 EPS for the last quarter, exceeding expectations, and posted a revenue of $14.94 billion, marking a 4.3% year-over-year increase.
• The company has announced a quarterly dividend of $0.78, resulting in an annualized dividend yield of 3.3%, with an upcoming payment on September 2nd to shareholders recorded by August 18th.

Russell Investments Group Ltd. lessened its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,295,729 shares of the energy producer's stock after selling 133,511 shares during the quarter. Russell Investments Group Ltd. owned about 0.10% of ConocoPhillips worth $136,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Second Line Capital LLC raised its holdings 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 worth $495,000 after acquiring an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co grew its holdings in shares of ConocoPhillips by 1.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock valued at $703,000 after purchasing an additional 110 shares in the last quarter. LRI Investments LLC grew its holdings in shares of ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock valued at $316,000 after purchasing an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock valued at $334,000 after purchasing an additional 118 shares in the last quarter. Finally, Northeast Financial Consultants Inc grew its holdings in shares of ConocoPhillips by 2.9% in 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.

ConocoPhillips Trading Down 0.4%

Shares of NYSE:COP opened at $93.56 on Tuesday. The business's 50-day moving average is $92.91 and its 200 day moving average is $93.53. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The firm has a market capitalization of $116.85 billion, a P/E ratio of 12.56, a P/E/G ratio of 2.44 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the company posted $1.98 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a $0.78 dividend. 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 dividend payout ratio is currently 41.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Mizuho cut their target price on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group boosted their price objective on ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 11th. Morgan Stanley restated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday. Bank of America dropped their price objective on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Scotiabank boosted their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $120.84.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The shares were 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 owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

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.

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