Cypress Capital Group Sells 2,911 Shares of ConocoPhillips (NYSE:COP)

Cypress Capital Group lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,879 shares of the energy producer's stock after selling 2,911 shares during the period. Cypress Capital Group's holdings in ConocoPhillips were worth $1,575,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its stake in shares of ConocoPhillips by 19.2% in the third quarter. Chicago Partners Investment Group LLC now owns 6,090 shares of the energy producer's stock worth $636,000 after purchasing an additional 980 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of ConocoPhillips by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 297,777 shares of the energy producer's stock worth $31,350,000 after purchasing an additional 5,783 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of ConocoPhillips by 18.1% in the third quarter. Harbor Capital Advisors Inc. now owns 1,648 shares of the energy producer's stock worth $174,000 after purchasing an additional 253 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of ConocoPhillips in the third quarter worth about $5,259,000. Finally, Quintet Private Bank Europe S.A. grew its stake in shares of ConocoPhillips by 14.2% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,283 shares of the energy producer's stock worth $135,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $1.67 during trading on Wednesday, hitting $88.98. The company had a trading volume of 12,078,378 shares, compared to its average volume of 7,213,794. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. 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 firm has a market capitalization of $113.21 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The stock has a 50 day simple moving average of $99.82 and a 200 day simple moving average of $104.64.

ConocoPhillips (NYSE:COP - Get Free Report) last issued 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 net margin of 16.23% and a return on equity of 17.26%. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given 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 3.51%. ConocoPhillips's payout ratio is 40.05%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. UBS Group cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Evercore ISI reaffirmed an "outperform" rating and set a $165.00 price objective on shares of ConocoPhillips in a research report on Friday, December 6th. Raymond James cut ConocoPhillips from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an "overweight" rating and a $128.00 price target on the stock. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $133.47.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company's stock.

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.