Public Employees Retirement Association of Colorado trimmed its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 199,189 shares of the energy producer’s stock after selling 3,743 shares during the period. Public Employees Retirement Association of Colorado’s holdings in ConocoPhillips were worth $20,638,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. boosted its position in shares of ConocoPhillips by 398.1% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after acquiring an additional 215 shares in the last quarter. Northwest Bank & Trust Co purchased a new stake in ConocoPhillips during the second quarter worth approximately $29,000. Fairfield Bush & CO. acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. NewSquare Capital LLC increased its stake in ConocoPhillips by 335.4% in the first quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 265 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in ConocoPhillips by 91.4% in the first quarter. HHM Wealth Advisors LLC now owns 402 shares of the energy producer’s stock valued at $40,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.
Insider Transactions at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the transaction, the chief executive officer now owns 18,187 shares in the company, valued at approximately $2,221,360.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy A. Leach sold 44,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 646,049 shares of company stock worth $78,636,116 over the last ninety days. 0.37% of the stock is currently owned by company insiders.
ConocoPhillips Stock Performance
ConocoPhillips Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 14th will be issued a $0.58 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, November 13th. This represents a $2.32 annualized dividend and a dividend yield of 2.01%. ConocoPhillips’s payout ratio is presently 22.30%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on COP. StockNews.com began coverage on shares of ConocoPhillips in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company boosted their price target 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. Bank of America raised their price objective on ConocoPhillips from $145.00 to $150.00 in a report on Wednesday, September 27th. Truist Financial boosted their target price on ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 18th. Finally, Susquehanna dropped their price target on ConocoPhillips from $153.00 to $152.00 and set a “positive” rating on the stock in a research note on Wednesday, October 18th. Five investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.10.
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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