Rockefeller Capital Management L.P. Sells 2,421 Shares of ConocoPhillips (NYSE:COP)

Rockefeller Capital Management L.P. lessened its position in ConocoPhillips (NYSE:COP) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,283 shares of the energy producer’s stock after selling 2,421 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in ConocoPhillips were worth $19,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips during the 2nd quarter worth about $30,021,000. Alpha DNA Investment Management LLC boosted its position in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after acquiring an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of ConocoPhillips by 5,422.3% during the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock valued at $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of ConocoPhillips by 1.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after acquiring an additional 46,621 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $108.34 on Monday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm’s 50 day moving average is $108.77 and its 200-day moving average is $110.72. The firm has a market capitalization of $124.69 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.89 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COP shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Scotiabank decreased their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. UBS Group reduced their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Company Profile

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.