Tortoise Capital Advisors L.L.C. Sells 26,711 Shares of ConocoPhillips (NYSE:COP)

by · The Markets Daily

Tortoise Capital Advisors L.L.C. reduced its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 22.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 91,961 shares of the energy producer’s stock after selling 26,711 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in ConocoPhillips were worth $9,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Invesco Ltd. raised its position in shares of ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of ConocoPhillips by 401.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after buying an additional 3,541,504 shares during the period. Geode Capital Management LLC grew its position in ConocoPhillips by 13.7% during the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ConocoPhillips during the fourth quarter valued at about $232,859,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 3.0 %

Shares of NYSE COP opened at $88.96 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $95.25 and a two-hundred day moving average of $101.37. The company has a market cap of $112.46 billion, a PE ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is 40.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COP. Royal Bank of Canada reduced their price objective on ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Raymond James downgraded shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $157.00 to $124.00 in a research note on Monday, February 10th. Scotiabank dropped their price objective on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Finally, The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a research report on Thursday, January 30th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $128.32.

Check Out Our Latest Stock Report on COP

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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