Bank of New York Mellon Corp Sells 119,263 Shares of ConocoPhillips $COP

Bank of New York Mellon Corp decreased its position in ConocoPhillips (NYSE:COP) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 9,186,558 shares of the energy producer’s stock after selling 119,263 shares during the quarter. Bank of New York Mellon Corp’s holdings in ConocoPhillips were worth $859,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. AXA S.A. increased its position in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. lifted its holdings in shares of ConocoPhillips by 6.1% during the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after buying an additional 44,852 shares during the last quarter. BNP Paribas bought a new stake in shares of ConocoPhillips in the second quarter valued at approximately $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of ConocoPhillips in the second quarter worth $151,000. Finally, Main Street Financial Solutions LLC grew its stake in shares of ConocoPhillips by 53.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group upped their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. The Goldman Sachs Group boosted their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Scotiabank increased their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group lifted their target price on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares in the company, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 14,522 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the sale, the executive vice president directly owned 12,389 shares of the company’s stock, valued at $1,478,751.04. The trade was a 53.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by company insiders.

ConocoPhillips Trading Up 2.0%

COP opened at $119.24 on Thursday. The firm has a 50 day simple moving average of $122.52 and a 200 day simple moving average of $109.19. ConocoPhillips has a fifty-two week low of $85.23 and a fifty-two week high of $135.87. The company has a market cap of $145.27 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period last year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.8%. ConocoPhillips’s dividend payout ratio (DPR) is 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.