Brandywine Global Investment Management LLC Sells 649,829 Shares of ConocoPhillips (NYSE:COP)

Brandywine Global Investment Management LLC lowered its holdings in ConocoPhillips (NYSE:COP - Free Report) by 34.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,218,322 shares of the energy producer's stock after selling 649,829 shares during the period. ConocoPhillips comprises about 0.9% of Brandywine Global Investment Management LLC's investment portfolio, making the stock its 24th biggest holding. Brandywine Global Investment Management LLC owned about 0.11% of ConocoPhillips worth $120,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of COP. Albion Financial Group UT lifted its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer's stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the fourth quarter worth $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips in the fourth quarter valued at $27,000. Crowley Wealth Management Inc. acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $32,000. Finally, Marshall Investment Management LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at $36,000. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on COP shares. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a research note on Thursday, January 30th. TD Cowen began coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 price objective for the company. Mizuho raised ConocoPhillips from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company decreased their price target on ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Finally, Barclays dropped their price objective on ConocoPhillips from $137.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $132.95.

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ConocoPhillips Stock Performance

Shares of COP traded up $0.33 during trading hours on Tuesday, reaching $105.35. 6,730,893 shares of the company traded hands, compared to its average volume of 6,766,343. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The stock's fifty day moving average is $98.94 and its 200 day moving average is $103.29. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The stock has a market cap of $134.05 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is presently 40.05%.

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.