Sumitomo Mitsui Trust Group Inc. Sells 4,652 Shares of ConocoPhillips (NYSE:COP)

Sumitomo Mitsui Trust Group Inc. cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,316,904 shares of the energy producer's stock after selling 4,652 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of ConocoPhillips worth $348,341,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Gray Wealth Management Inc. increased its holdings in ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock worth $215,000 after purchasing an additional 104 shares during the period. Plancorp LLC increased its holdings in ConocoPhillips by 2.7% during the 4th quarter. Plancorp LLC now owns 4,018 shares of the energy producer's stock worth $399,000 after purchasing an additional 104 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in ConocoPhillips by 3.7% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,912 shares of the energy producer's stock worth $289,000 after purchasing an additional 105 shares during the period. Councilmark Asset Management LLC increased its holdings in ConocoPhillips by 0.5% during the 4th quarter. Councilmark Asset Management LLC now owns 19,639 shares of the energy producer's stock worth $1,948,000 after purchasing an additional 106 shares during the period. Finally, Second Line Capital LLC increased its holdings in 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 purchasing an additional 108 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley raised their price objective on ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company restated an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday. UBS Group cut their price target on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays cut their price target on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna cut their price target on ConocoPhillips from $120.00 to $114.00 and set a "positive" rating on the stock in a report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $121.50.

ConocoPhillips Stock Down 0.8%

Shares of COP stock opened at $90.20 on Friday. The stock's fifty day moving average price is $89.96 and its 200 day moving average price is $95.07. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company has a market cap of $114.03 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.

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

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given 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 yield of 3.46%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insiders Place Their Bets

In related 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 price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.