ConocoPhillips (NYSE:COP) Holdings Cut by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lowered its position in ConocoPhillips (NYSE:COP) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,283 shares of the energy producer’s stock after selling 2,421 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ConocoPhillips were worth $19,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Vicus Capital increased its stake in shares of ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after purchasing an additional 94 shares during the period. Montag A & Associates Inc. increased its stake in shares of ConocoPhillips by 2.5% in the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp increased its stake in shares of ConocoPhillips by 2.4% in the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after purchasing an additional 96 shares during the period. Cypress Capital Group increased its stake in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after purchasing an additional 96 shares during the period. Finally, Bank OZK increased its stake in shares of ConocoPhillips by 1.6% in the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.9 %

ConocoPhillips stock opened at $108.34 on Monday. The company has a 50 day moving average price of $108.77 and a 200 day moving average price of $110.72. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market capitalization of $124.69 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. Research analysts forecast that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.88%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $137.63.

ConocoPhillips Company 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.