ConocoPhillips (NYSE:COP) Shares Sold by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC reduced its position in ConocoPhillips (NYSE:COP) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,249 shares of the energy producer’s stock after selling 334 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in ConocoPhillips were worth $5,080,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors raised its stake in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the last quarter. Legal & General Group Plc boosted its holdings in ConocoPhillips by 4.6% in the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after acquiring an additional 438,241 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in ConocoPhillips by 2.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock worth $653,065,000 after acquiring an additional 109,885 shares in the last quarter. Finally, Boston Partners grew its stake in shares of ConocoPhillips by 10.3% during the first quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock worth $567,111,000 after acquiring an additional 415,878 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on COP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Mizuho dropped their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Barclays cut their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $104.56 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm’s 50 day simple moving average is $108.47 and its 200-day simple moving average is $113.82. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a market capitalization of $122.29 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same quarter last year, the business earned $1.84 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Analysts expect that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. ConocoPhillips’s payout ratio is 26.27%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

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.