ConocoPhillips (NYSE:COP) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN decreased its holdings in ConocoPhillips (NYSE:COP) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,003 shares of the energy producer’s stock after selling 1,505 shares during the period. ConocoPhillips comprises approximately 1.6% of Patten & Patten Inc. TN’s portfolio, making the stock its 11th largest position. Patten & Patten Inc. TN’s holdings in ConocoPhillips were worth $23,688,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after acquiring an additional 1,194,434 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in ConocoPhillips by 19.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock worth $717,093,000 after purchasing an additional 1,101,685 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction 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 approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Mizuho raised their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group dropped their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Price Performance

COP stock opened at $111.59 on Monday. The stock has a 50-day moving average price of $107.73 and a two-hundred day moving average price of $112.28. The company has a market cap of $128.43 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 EPS. As a group, research analysts predict that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

ConocoPhillips Company 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.