DAVENPORT & Co LLC Acquires 1,115 Shares of ConocoPhillips (NYSE:COP)

DAVENPORT & Co LLC increased its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,154 shares of the energy producer’s stock after acquiring an additional 1,115 shares during the quarter. DAVENPORT & Co LLC’s holdings in ConocoPhillips were worth $5,705,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Cetera Investment Advisers lifted its position in shares of ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after acquiring an additional 968 shares during the period. Baird Financial Group Inc. grew its holdings in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after purchasing an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. increased its position in shares of ConocoPhillips by 59.1% during the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after purchasing an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after purchasing an additional 2,465 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $131.63 on Thursday. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $132.00. The stock has a 50-day simple moving average of $115.97 and a 200 day simple moving average of $116.30. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $154.85 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 2.97 and a beta of 1.24.

ConocoPhillips (NYSE:COPGet Free Report) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the firm posted $2.71 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.81 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last 90 days. 0.37% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on COP shares. Susquehanna lowered their price target on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. UBS Group upped their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Mizuho restated a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Scotiabank lifted their price objective on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.35.

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ConocoPhillips Profile

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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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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