ConocoPhillips (NYSE:COP) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its position in ConocoPhillips (NYSE:COP) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,775 shares of the energy producer’s stock after selling 435 shares during the period. ProShare Advisors LLC’s holdings in ConocoPhillips were worth $23,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Northwest Bank & Trust Co acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $29,000. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips in the 1st quarter worth $31,000. Graham Capital Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter worth $359,140,000. Fortis Capital Advisors LLC acquired a new position in shares of ConocoPhillips during the 4th quarter valued at about $43,000. Finally, Impact Partnership Wealth LLC acquired a new stake in ConocoPhillips during the second quarter worth about $42,000. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP opened at $115.39 on Tuesday. The stock has a 50-day simple moving average of $119.58 and a 200-day simple moving average of $112.65. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. ConocoPhillips has a 1 year low of $91.53 and a 1 year high of $130.55. The stock has a market capitalization of $137.02 billion, a PE ratio of 12.61, a PEG ratio of 0.68 and a beta of 1.28.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be paid a $0.58 dividend. The ex-dividend date is Monday, November 13th. This represents a $2.32 dividend on an annualized basis and a yield of 2.01%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s payout ratio is currently 25.36%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 44,000 shares of ConocoPhillips stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total transaction of $5,044,160.00. Following the completion of the sale, the director now directly owns 578,748 shares of the company’s stock, valued at approximately $66,347,670.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Timothy A. Leach sold 44,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $114.64, for a total transaction of $5,044,160.00. Following the completion of the sale, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at $2,221,360.18. The disclosure for this sale can be found here. Insiders sold 646,049 shares of company stock worth $78,636,116 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on COP shares. Mizuho raised their price target on shares of ConocoPhillips from $135.00 to $139.00 and gave the stock a “neutral” rating in a report on Monday, September 18th. Raymond James decreased their price target on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. Johnson Rice assumed coverage on ConocoPhillips in a research report on Tuesday, November 14th. They set an “accumulate” rating and a $135.00 price objective for the company. Wells Fargo & Company upped their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of ConocoPhillips in a research report on Thursday, October 5th. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.35.

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 and internationally. The company's 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 global exploration prospects.