ConocoPhillips (NYSE:COP) Stake Lessened by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lowered its holdings in ConocoPhillips (NYSE:COPFree Report) by 48.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,020 shares of the energy producer’s stock after selling 16,240 shares during the period. Miracle Mile Advisors LLC’s holdings in ConocoPhillips were worth $1,976,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COP. Fairfield Bush & CO. purchased a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Cetera Investment Advisers lifted its holdings in shares of ConocoPhillips by 4.0% in the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after purchasing an additional 968 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after purchasing an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of ConocoPhillips by 59.1% during the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after acquiring an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of ConocoPhillips by 21.3% during the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after acquiring an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.3 %

Shares of COP opened at $127.28 on Monday. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $128.64. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $149.73 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 2.89 and a beta of 1.24. The stock’s 50-day moving average price is $114.67 and its 200 day moving average price is $116.16.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the company posted $2.71 EPS. As a group, research analysts predict that ConocoPhillips will post 8.79 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock valued at $87,615,169 in the last three months. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday. Susquehanna cut their price objective on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a report on Friday, January 26th. Raymond James cut their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and set a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Finally, UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.35.

Check Out Our Latest Report on ConocoPhillips

ConocoPhillips Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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