Ferguson Wellman Capital Management Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 4.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,940 shares of the energy producer’s stock after buying an additional 952 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in ConocoPhillips were worth $2,584,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its position in shares of ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares during the last quarter. Morgan Stanley lifted its stake in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after buying an additional 3,497,750 shares during the period. Cowa LLC lifted its stake in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after buying an additional 2,339,100 shares during the period. Two Sigma Investments LP lifted its stake in shares of ConocoPhillips by 794.6% in the first quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock valued at $229,532,000 after buying an additional 2,054,974 shares during the period. Finally, Findlay Park Partners LLP bought a new stake in shares of ConocoPhillips in the fourth quarter valued at about $207,728,000. 80.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on COP shares. Jefferies Financial Group cut their target price on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Piper Sandler cut their target price on shares of ConocoPhillips from $149.00 to $125.00 in a research note on Tuesday, June 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 target price on shares of ConocoPhillips in a research note on Monday, August 14th. Truist Financial lifted their target price on shares of ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.63.
In related news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.37% of the stock is owned by company insiders.
ConocoPhillips Price Performance
COP opened at $123.57 on Monday. The company has a fifty day moving average price of $116.22 and a two-hundred day moving average price of $107.25. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $138.49. The firm has a market capitalization of $147.97 billion, a PE ratio of 11.90, a P/E/G ratio of 0.78 and a beta of 1.30.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The firm had revenue of $12.88 billion during the quarter, compared to analyst estimates of $14.64 billion. During the same period last year, the firm earned $3.91 EPS. As a group, analysts anticipate that ConocoPhillips will post 8.74 earnings per share for the current year.
ConocoPhillips Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, September 27th. ConocoPhillips’s dividend payout ratio (DPR) is 19.65%.
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.
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