ConocoPhillips $COP Shares Purchased by ING Groep NV

ING Groep NV grew its position in ConocoPhillips (NYSE:COP) by 1,138.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 160,859 shares of the energy producer’s stock after purchasing an additional 147,875 shares during the period. ING Groep NV’s holdings in ConocoPhillips were worth $15,058,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the last quarter. Capital International Investors grew its position in ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Fisher Asset Management LLC grew its position in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after purchasing an additional 193,401 shares during the last quarter. Ameriprise Financial Inc. grew its position in ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after purchasing an additional 2,216,010 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in ConocoPhillips by 31.3% in the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after purchasing an additional 2,467,555 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on COP shares. Wolfe Research upped their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Citigroup upped their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. BMO Capital Markets decreased their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Piper Sandler upped their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Trading Down 0.0%

ConocoPhillips stock opened at $117.10 on Monday. The firm has a 50 day simple moving average of $122.08 and a 200-day simple moving average of $109.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $142.66 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Heather G. Hrap sold 2,654 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $317,630.72. Following the sale, the senior vice president directly owned 5,663 shares of the company’s stock, valued at approximately $677,747.84. This represents a 31.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 686,391 shares of company stock valued at $87,590,752 in the last ninety days. 0.09% of the stock is owned by company insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.