Nuveen Asset Management LLC Lowers Stock Holdings in ConocoPhillips (NYSE:COP)

Nuveen Asset Management LLC decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,707,136 shares of the energy producer's stock after selling 587,134 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.58% of ConocoPhillips worth $665,147,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. raised its position in shares of ConocoPhillips by 8.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,790 shares of the energy producer's stock worth $178,000 after purchasing an additional 142 shares during the last quarter. Aprio Wealth Management LLC lifted its stake in shares of ConocoPhillips by 5.8% in the fourth quarter. Aprio Wealth Management LLC now owns 2,249 shares of the energy producer's stock worth $223,000 after buying an additional 124 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in shares of ConocoPhillips by 11.9% during the fourth quarter. Trust Co. of Toledo NA OH now owns 7,394 shares of the energy producer's stock valued at $733,000 after buying an additional 787 shares during the last quarter. Brookstone Capital Management increased its position in shares of ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer's stock valued at $878,000 after acquiring an additional 383 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of ConocoPhillips by 1.8% during the fourth quarter. Capital Investment Advisors LLC now owns 17,629 shares of the energy producer's stock valued at $1,748,000 after acquiring an additional 311 shares in the last quarter. Institutional investors own 82.36% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Mizuho decreased their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday. Raymond James downgraded shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a "buy" rating and a $125.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an "overweight" rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus target price of $122.74.

ConocoPhillips Trading Down 0.7%

Shares of COP stock traded down $0.62 during trading hours on Friday, reaching $92.34. 6,693,880 shares of the stock were exchanged, compared to its average volume of 7,314,385. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $122.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $93.24 and its 200-day moving average price is $99.06. The firm has a market capitalization of $116.73 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64.

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, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the previous year, the company earned $2.05 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $0.78 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.38%. ConocoPhillips's dividend payout ratio (DPR) 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.