Keybank National Association OH Trims Holdings in ConocoPhillips $COP

Keybank National Association OH lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,191 shares of the energy producer’s stock after selling 11,856 shares during the period. Keybank National Association OH’s holdings in ConocoPhillips were worth $40,813,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Capital International Investors raised its holdings in shares of ConocoPhillips by 18.2% in the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of ConocoPhillips by 229.2% during the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after buying an additional 2,503,156 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after buying an additional 2,216,010 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in ConocoPhillips in the 3rd quarter valued at about $135,265,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Jefferies Financial Group upped their price objective on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Argus lifted their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Susquehanna boosted their target price on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Scotiabank increased their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.76.

ConocoPhillips Trading Up 1.4%

NYSE COP opened at $104.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $127.48 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.19 and a beta of 0.12. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The firm has a 50-day moving average price of $116.12 and a 200 day moving average price of $112.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.