Envestnet Asset Management Inc. Has $264.10 Million Holdings in ConocoPhillips (NYSE:COP)

Envestnet Asset Management Inc. trimmed its stake in ConocoPhillips (NYSE:COP) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,663,106 shares of the energy producer’s stock after selling 34,306 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of ConocoPhillips worth $264,100,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Geode Capital Management LLC grew its holdings in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Franklin Resources Inc. increased its position in shares of ConocoPhillips by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer’s stock valued at $1,430,034,000 after purchasing an additional 862,707 shares during the period. Fisher Asset Management LLC raised its stake in shares of ConocoPhillips by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock valued at $1,366,640,000 after purchasing an additional 1,324,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 17.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,358,331 shares of the energy producer’s stock worth $828,896,000 after purchasing an additional 1,261,881 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 9.5 %

ConocoPhillips stock opened at $86.18 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $85.55 and a 1-year high of $135.18. The company has a fifty day simple moving average of $98.53 and a 200 day simple moving average of $103.10. The company has a market cap of $108.95 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group set a $132.00 price target on shares of ConocoPhillips in a report on Thursday, January 30th. TD Cowen assumed coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target for the company. Wells Fargo & Company decreased their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Finally, Barclays decreased their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.95.

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.