ConocoPhillips (NYSE:COP) Shares Sold by Zacks Investment Management

Zacks Investment Management decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 12.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,192,411 shares of the energy producer's stock after selling 169,058 shares during the quarter. ConocoPhillips comprises about 1.1% of Zacks Investment Management's holdings, making the stock its 21st largest position. Zacks Investment Management owned 0.10% of ConocoPhillips worth $118,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $95,002,000. NewEdge Advisors LLC increased its stake in ConocoPhillips by 33.3% in the fourth quarter. NewEdge Advisors LLC now owns 139,918 shares of the energy producer's stock valued at $13,876,000 after purchasing an additional 34,931 shares during the last quarter. Resurgent Financial Advisors LLC boosted its position in shares of ConocoPhillips by 1.7% in the fourth quarter. Resurgent Financial Advisors LLC now owns 21,633 shares of the energy producer's stock worth $2,145,000 after acquiring an additional 367 shares during the last quarter. Main Street Financial Solutions LLC grew its holdings in ConocoPhillips by 7.9% in the fourth quarter. Main Street Financial Solutions LLC now owns 3,388 shares of the energy producer's stock valued at $336,000 after purchasing an additional 249 shares during the period. Finally, Stenger Family Office LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at approximately $1,529,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock traded up $2.60 on Friday, hitting $88.96. 7,804,344 shares of the stock traded hands, compared to its average volume of 7,121,471. The company's fifty day moving average is $95.25 and its 200 day moving average is $101.37. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The company has a market capitalization of $112.46 billion, a PE ratio of 11.42, a PEG ratio of 0.79 and a beta of 0.83. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

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 net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips's dividend payout ratio (DPR) is 40.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $116.00 price target on shares of ConocoPhillips in a report on Tuesday. Scotiabank lowered their price target on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on ConocoPhillips from $131.00 to $116.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. UBS Group reduced their price objective on ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They set a "buy" rating and a $125.00 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.32.

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.