Cambridge Investment Research Advisors Inc. Has $23.78 Million Holdings in ConocoPhillips (NYSE:COP)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,854 shares of the energy producer’s stock after selling 9,157 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in ConocoPhillips were worth $23,777,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. WealthPlan Investment Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $441,000. Pinnacle Financial Partners Inc grew its holdings in shares of ConocoPhillips by 3.1% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 19,165 shares of the energy producer’s stock valued at $2,296,000 after buying an additional 578 shares during the period. Lincoln National Corp increased its position in shares of ConocoPhillips by 24.6% in the 3rd quarter. Lincoln National Corp now owns 24,478 shares of the energy producer’s stock valued at $2,932,000 after buying an additional 4,828 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in ConocoPhillips by 7.7% during the third quarter. Victory Capital Management Inc. now owns 1,341,386 shares of the energy producer’s stock worth $160,698,000 after acquiring an additional 95,749 shares in the last quarter. Finally, HBK Sorce Advisory LLC raised its position in shares of ConocoPhillips by 1.9% during the third quarter. HBK Sorce Advisory LLC now owns 16,472 shares of the energy producer’s stock worth $1,973,000 after purchasing an additional 305 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COP. Mizuho lifted their price objective on shares of ConocoPhillips from $139.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, May 13th. Wells Fargo & Company raised their price target on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Barclays began coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective for the company. Five investment 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 stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.40 during midday trading on Friday, reaching $117.25. 2,851,146 shares of the company traded hands, compared to its average volume of 5,001,379. The firm’s fifty day moving average price is $125.92 and its two-hundred day moving average price is $117.73. ConocoPhillips has a 12 month low of $98.38 and a 12 month high of $135.18. The firm has a market capitalization of $137.13 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 2.59 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The firm had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. On average, equities analysts expect that ConocoPhillips will post 9.09 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.66%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold 664,350 shares of company stock valued at $83,537,680 over the last ninety days. 0.34% of the stock is owned by insiders.

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.