Voya Investment Management LLC Sells 620,708 Shares of ConocoPhillips (NYSE:COP)

Voya Investment Management LLC decreased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 52.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 570,922 shares of the energy producer's stock after selling 620,708 shares during the period. Voya Investment Management LLC's holdings in ConocoPhillips were worth $56,618,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. lifted its position in ConocoPhillips by 3.0% in the 4th quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer's stock worth $331,000 after buying an additional 96 shares during the last quarter. Principle Wealth Partners LLC raised its stake in shares of ConocoPhillips by 0.3% during the fourth quarter. Principle Wealth Partners LLC now owns 37,255 shares of the energy producer's stock worth $3,695,000 after acquiring an additional 100 shares in the last quarter. Arlington Trust Co LLC lifted its holdings in shares of ConocoPhillips by 1.2% in the 4th quarter. Arlington Trust Co LLC now owns 8,640 shares of the energy producer's stock worth $857,000 after acquiring an additional 102 shares during the last quarter. Courier Capital LLC boosted its stake in shares of ConocoPhillips by 0.5% in the 4th quarter. Courier Capital LLC now owns 20,481 shares of the energy producer's stock valued at $2,031,000 after purchasing an additional 103 shares in the last quarter. Finally, Gray Wealth Management Inc. grew its holdings in shares of ConocoPhillips by 5.0% during the 4th quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer's stock valued at $215,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Royal Bank of Canada decreased their price target on ConocoPhillips from $133.00 to $120.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays dropped their price objective on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a "buy" rating and a $125.00 target price on the stock. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $126.89.

ConocoPhillips Stock Up 1.3 %

ConocoPhillips stock traded up $1.20 during trading hours on Monday, hitting $92.92. 4,667,117 shares of the stock traded hands, compared to its average volume of 7,153,343. ConocoPhillips has a one year low of $79.88 and a one year high of $130.44. The firm's 50-day moving average price is $94.43 and its two-hundred day moving average price is $100.39. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market cap of $117.47 billion, a PE ratio of 11.93, a PEG ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share 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%. On average, research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.36%. ConocoPhillips's payout ratio is 40.05%.

ConocoPhillips 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.