ConocoPhillips (NYSE:COP) Shares Sold by Violich Capital Management Inc.

Violich Capital Management Inc. reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,219 shares of the energy producer's stock after selling 3,875 shares during the period. ConocoPhillips makes up 0.9% of Violich Capital Management Inc.'s holdings, making the stock its 28th biggest position. Violich Capital Management Inc.'s holdings in ConocoPhillips were worth $6,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. PAX Financial Group LLC raised its stake in ConocoPhillips by 10.2% during the first quarter. PAX Financial Group LLC now owns 3,162 shares of the energy producer's stock worth $332,000 after purchasing an additional 293 shares during the period. Wealthfront Advisers LLC raised its stake in ConocoPhillips by 4.9% during the first quarter. Wealthfront Advisers LLC now owns 201,292 shares of the energy producer's stock worth $21,140,000 after purchasing an additional 9,392 shares during the period. Pinkerton Retirement Specialists LLC raised its stake in ConocoPhillips by 6.4% during the first quarter. Pinkerton Retirement Specialists LLC now owns 41,797 shares of the energy producer's stock worth $4,390,000 after purchasing an additional 2,496 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in ConocoPhillips by 812.0% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 127,811 shares of the energy producer's stock worth $13,423,000 after purchasing an additional 113,797 shares during the period. Finally, Whittier Trust Co. raised its stake in ConocoPhillips by 1,122.6% during the first quarter. Whittier Trust Co. now owns 249,823 shares of the energy producer's stock worth $26,236,000 after purchasing an additional 229,390 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP stock traded down $1.46 on Tuesday, hitting $92.71. The company's stock had a trading volume of 4,149,910 shares, compared to its average volume of 7,648,581. The firm has a 50 day moving average of $90.72 and a two-hundred day moving average of $94.72. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The stock has a market cap of $117.20 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Equities analysts predict that ConocoPhillips will post 8.16 EPS 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 given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.37%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on COP shares. Citigroup lowered their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Morgan Stanley reiterated an "overweight" rating and set a $119.00 price target on shares of ConocoPhillips in a report on Tuesday. Bank of America lowered their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Tuesday. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.70.

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.