Tiaa Fsb Sells 414 Shares of ConocoPhillips (COP)

TIAA FSB cut its stake in ConocoPhillips (NYSE:COP) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,723 shares of the energy producer’s stock after selling 414 shares during the quarter. TIAA FSB’s holdings in ConocoPhillips were worth $3,653,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in ConocoPhillips by 54,716.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,236,749 shares of the energy producer’s stock valued at $947,125,000 after purchasing an additional 12,214,426 shares during the last quarter. Martingale Asset Management L P increased its holdings in ConocoPhillips by 58.4% in the 3rd quarter. Martingale Asset Management L P now owns 606,548 shares of the energy producer’s stock valued at $46,947,000 after purchasing an additional 223,597 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in ConocoPhillips by 2.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 53,679 shares of the energy producer’s stock valued at $4,155,000 after purchasing an additional 1,192 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in ConocoPhillips by 5.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 74,746 shares of the energy producer’s stock valued at $5,785,000 after purchasing an additional 3,762 shares during the last quarter. Finally, Mutual Advisors LLC increased its holdings in ConocoPhillips by 92.4% in the 3rd quarter. Mutual Advisors LLC now owns 5,669 shares of the energy producer’s stock valued at $439,000 after purchasing an additional 2,723 shares during the last quarter. 74.23% of the stock is owned by institutional investors.

Several research firms recently weighed in on COP. Morgan Stanley set a $77.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of ConocoPhillips from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 15th. ValuEngine downgraded shares of ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Credit Suisse Group cut shares of ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target for the company. in a research report on Wednesday, May 1st. Finally, Goldman Sachs Group raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and raised their price target for the company from $76.00 to $82.00 in a research report on Sunday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $78.20.

Shares of ConocoPhillips stock traded up $0.11 during trading on Thursday, hitting $61.54. 5,915,075 shares of the stock were exchanged, compared to its average volume of 6,874,473. The stock has a market cap of $69.77 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. ConocoPhillips has a 12-month low of $56.75 and a 12-month high of $80.24. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.08. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a net margin of 18.08% and a return on equity of 16.65%. During the same period in the previous year, the company earned $0.96 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 4.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.22 annualized dividend and a dividend yield of 1.98%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.93%.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading: Support Level

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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