Ballentine Partners LLC Decreases Stake in ConocoPhillips (COP)

Ballentine Partners LLC reduced its holdings in ConocoPhillips (NYSE:COP) by 17.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,059 shares of the energy producer’s stock after selling 1,239 shares during the period. Ballentine Partners LLC’s holdings in ConocoPhillips were worth $378,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc. now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after buying an additional 451,104 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of ConocoPhillips by 0.5% in the third quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after buying an additional 451,104 shares in the last quarter. Capital World Investors lifted its stake in shares of ConocoPhillips by 2.4% in the third quarter. Capital World Investors now owns 65,981,471 shares of the energy producer’s stock worth $5,106,966,000 after buying an additional 1,571,260 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of ConocoPhillips by 54,716.8% in the third quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock worth $947,125,000 after buying an additional 12,214,426 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of ConocoPhillips by 12.2% in the third quarter. Dimensional Fund Advisors LP now owns 8,855,458 shares of the energy producer’s stock worth $685,414,000 after buying an additional 964,479 shares in the last quarter. 72.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on COP shares. Zacks Investment Research raised shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, December 11th. Societe Generale reduced their target price on shares of ConocoPhillips from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Tudor Pickering raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday, December 14th. BMO Capital Markets set a $78.00 target price on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Monday, November 12th. Finally, Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Monday, October 29th. Nine analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.41.

ConocoPhillips stock opened at $67.78 on Thursday. The company has a market capitalization of $76.83 billion, a PE ratio of 14.96, a P/E/G ratio of 2.20 and a beta of 1.11. ConocoPhillips has a 1 year low of $52.54 and a 1 year high of $80.24. The company has a current ratio of 1.79, a quick ratio of 1.66 and a debt-to-equity ratio of 0.46.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, January 31st. The energy producer reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.08. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.60 billion. ConocoPhillips had a net margin of 16.16% and a return on equity of 16.91%. During the same period in the previous year, the firm earned $0.45 EPS. On average, research analysts forecast that ConocoPhillips will post 3.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Monday, February 11th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, February 8th. ConocoPhillips’s dividend payout ratio (DPR) is 26.93%.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

Further Reading: Quiet Period Expirations Explained

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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