Quilter Plc Sells 3,240 Shares of ConocoPhillips (NYSE:COP)

Quilter Plc lessened its position in ConocoPhillips (NYSE:COP) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,129 shares of the energy producer’s stock after selling 3,240 shares during the period. Quilter Plc’s holdings in ConocoPhillips were worth $2,324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips during the fourth quarter worth about $26,000. 10Elms LLP acquired a new stake in ConocoPhillips during the 4th quarter worth about $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the 4th quarter worth about $32,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the 1st quarter valued at about $35,000. Finally, Rakuten Securities Inc. grew its stake in ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after purchasing an additional 262 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.1%

COP opened at $90.88 on Friday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week 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’s 50-day moving average is $89.93 and its 200 day moving average is $95.15. The firm has a market capitalization of $114.89 billion, a P/E ratio of 11.55, a PEG ratio of 2.41 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period last year, the business posted $2.05 earnings per share. Research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COP. Mizuho reduced their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Susquehanna reduced their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a report on Monday, May 12th. Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a report on Friday, May 30th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, UBS Group dropped their price target on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $121.50.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by company insiders.

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.