Manning & Napier Group LLC lifted its position in ConocoPhillips (NYSE:COP – Get Rating) by 73.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,068 shares of the energy producer’s stock after buying an additional 104,100 shares during the period. Manning & Napier Group LLC’s holdings in ConocoPhillips were worth $22,098,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in COP. Crossvault Capital Management LLC increased its holdings in ConocoPhillips by 1.7% during the 1st quarter. Crossvault Capital Management LLC now owns 6,120 shares of the energy producer’s stock worth $612,000 after purchasing an additional 100 shares in the last quarter. Ballew Advisors Inc lifted its stake in ConocoPhillips by 1.5% in the 1st quarter. Ballew Advisors Inc now owns 7,005 shares of the energy producer’s stock valued at $702,000 after purchasing an additional 103 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in ConocoPhillips by 2.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 5,163 shares of the energy producer’s stock valued at $516,000 after purchasing an additional 105 shares during the last quarter. Greenwich Wealth Management LLC lifted its position in ConocoPhillips by 2.9% during the first quarter. Greenwich Wealth Management LLC now owns 3,851 shares of the energy producer’s stock worth $385,000 after acquiring an additional 107 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in ConocoPhillips by 1.1% during the first quarter. Rosenberg Matthew Hamilton now owns 11,076 shares of the energy producer’s stock worth $1,108,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 79.66% of the company’s stock.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
ConocoPhillips Price Performance
ConocoPhillips (NYSE:COP – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the business posted $1.27 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 14.68 earnings per share for the current fiscal year.
ConocoPhillips Announces Dividend
The company also recently declared a None dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 29th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, September 29th. ConocoPhillips’s payout ratio is currently 15.19%.
Analysts Set New Price Targets
Several brokerages have recently commented on COP. Barclays raised their target price on shares of ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Piper Sandler boosted their target price on shares of ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Truist Financial decreased their target price on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, The Goldman Sachs Group cut their price target on shares of ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $121.79.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.
- Get a free copy of the StockNews.com research report on ConocoPhillips (COP)
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