ConocoPhillips $COP Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,147,411 shares of the energy producer’s stock after selling 81,557 shares during the quarter. ConocoPhillips comprises 0.8% of King Luther Capital Management Corp’s portfolio, making the stock its 28th biggest position. King Luther Capital Management Corp’s holdings in ConocoPhillips were worth $201,019,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after acquiring an additional 298,245 shares during the period. Natixis Advisors LLC grew its position in shares of ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after acquiring an additional 160,410 shares during the period. Chilton Capital Management LLC grew its position in shares of ConocoPhillips by 3.2% during the 3rd quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after acquiring an additional 11,958 shares during the period. AE Wealth Management LLC increased its stake in shares of ConocoPhillips by 107.5% in the 3rd quarter. AE Wealth Management LLC now owns 103,430 shares of the energy producer’s stock valued at $9,783,000 after purchasing an additional 53,587 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after purchasing an additional 20,501 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares in the company, valued at approximately $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the sale, the director directly owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 734,891 shares of company stock valued at $93,345,692. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $116.69 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The firm has a market capitalization of $142.16 billion, a PE ratio of 19.81, a P/E/G ratio of 1.35 and a beta of 0.14. The business’s 50 day moving average price is $123.57 and its 200-day moving average price is $108.02.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.09 EPS. As a group, equities research analysts expect that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COP shares. Raymond James Financial increased their price target on ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Mizuho upped their target price on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 17th. Capital One Financial decreased their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Roth Mkm lowered shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, February 17th. Finally, Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.04.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.