Victory Capital Management Inc. Has $155.56 Million Holdings in ConocoPhillips (NYSE:COP)

Victory Capital Management Inc. lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,340,250 shares of the energy producer’s stock after selling 1,136 shares during the quarter. Victory Capital Management Inc. owned approximately 0.11% of ConocoPhillips worth $155,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Northern Trust Corp boosted its holdings in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ConocoPhillips by 10.6% during the third quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after acquiring an additional 1,152,907 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after acquiring an additional 659,632 shares during the period. Lazard Asset Management LLC boosted its stake in shares of ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after buying an additional 74,278 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,472,590 shares of the energy producer’s stock valued at $775,416,000 after buying an additional 33,466 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.0 %

Shares of NYSE:COP opened at $124.36 on Thursday. The company has a fifty day moving average of $123.43 and a 200-day moving average of $117.72. The company has a market capitalization of $146.30 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 2.76 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the prior year, the business posted $2.71 earnings per share. On average, equities analysts predict that ConocoPhillips will post 9.11 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.51%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Raymond James cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Barclays began coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and issued a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, Morgan Stanley boosted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $142.65.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 over the last three months. Company insiders own 0.34% of the company’s stock.

About ConocoPhillips

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.