Victory Capital Management Inc. Sells 349,819 Shares of ConocoPhillips (NYSE:COP)

Victory Capital Management Inc. lessened its position in shares of ConocoPhillips (NYSE:COP) by 18.4% in the 1st quarter, HoldingsChannel reports. The fund owned 1,551,197 shares of the energy producer’s stock after selling 349,819 shares during the period. Victory Capital Management Inc.’s holdings in ConocoPhillips were worth $82,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Brookstone Capital Management bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $316,000. Gofen & Glossberg LLC IL raised its stake in shares of ConocoPhillips by 19.5% during the 4th quarter. Gofen & Glossberg LLC IL now owns 22,376 shares of the energy producer’s stock worth $895,000 after acquiring an additional 3,655 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of ConocoPhillips by 20.9% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,791 shares of the energy producer’s stock worth $112,000 after acquiring an additional 483 shares in the last quarter. Crescent Capital Consulting LLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $406,000. Finally, DNB Asset Management AS raised its stake in shares of ConocoPhillips by 24.2% during the 4th quarter. DNB Asset Management AS now owns 108,250 shares of the energy producer’s stock worth $4,329,000 after acquiring an additional 21,063 shares in the last quarter. Hedge funds and other institutional investors own 72.87% of the company’s stock.

Shares of NYSE COP opened at $56.52 on Monday. The company’s fifty day moving average price is $52.73 and its 200 day moving average price is $46.14. ConocoPhillips has a 1 year low of $27.53 and a 1 year high of $61.14. The company has a market capitalization of $76.27 billion, a PE ratio of -50.02, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.16 and a current ratio of 2.38.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, May 4th. The energy producer reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.12. ConocoPhillips had a negative net margin of 5.66% and a negative return on equity of 0.02%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $7.73 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts expect that ConocoPhillips will post -0.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Investors of record on Friday, May 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Thursday, May 13th. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.91%.

COP has been the topic of several research analyst reports. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Tuesday, May 11th. Zacks Investment Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research report on Tuesday, April 27th. KeyCorp boosted their target price on shares of ConocoPhillips from $62.00 to $63.00 and gave the stock an “overweight” rating in a research report on Thursday, April 15th. Raymond James raised shares of ConocoPhillips from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $80.00 to $85.00 in a research report on Thursday. Finally, Truist Securities boosted their target price on shares of ConocoPhillips from $50.00 to $60.00 in a research report on Monday, April 19th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $58.57.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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