Ferguson Wellman Capital Management Inc. Trims Stock Position in ConocoPhillips (NYSE:COP)

Ferguson Wellman Capital Management Inc. lessened its holdings in ConocoPhillips (NYSE:COPGet Rating) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,206 shares of the energy producer’s stock after selling 640 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in ConocoPhillips were worth $1,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Capital World Investors increased its stake in shares of ConocoPhillips by 62.4% in the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after purchasing an additional 9,014,700 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter valued at about $702,569,000. BlackRock Inc. boosted its holdings in ConocoPhillips by 3.4% in the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after buying an additional 3,652,817 shares during the last quarter. Capital Research Global Investors boosted its holdings in ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after buying an additional 2,715,820 shares during the last quarter. Finally, Cowa LLC boosted its holdings in ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after buying an additional 2,339,100 shares during the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 10,950 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on COP shares. Piper Sandler lifted their price objective on ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. The Goldman Sachs Group lowered their price objective on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Bank of America boosted their target price on ConocoPhillips from $134.00 to $140.00 and gave the stock a “buy” rating in a report on Monday. Barclays boosted their target price on ConocoPhillips from $142.00 to $153.00 and gave the stock an “overweight” rating in a report on Wednesday, August 31st. Finally, Mizuho lowered their target price on ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, August 18th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $121.79.

ConocoPhillips Stock Performance

NYSE:COP opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. ConocoPhillips has a 12 month low of $62.25 and a 12 month high of $124.08. The firm has a market capitalization of $142.36 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. The business’s fifty day moving average price is $102.42 and its 200 day moving average price is $101.24.

ConocoPhillips (NYSE:COPGet Rating) last released its quarterly earnings data on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a net margin of 23.10% and a return on equity of 31.24%. During the same quarter last year, the company posted $1.27 earnings per share. On average, sell-side analysts anticipate that ConocoPhillips will post 14.54 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were paid a $1.40 dividend. The ex-dividend date was Thursday, September 29th. ConocoPhillips’s dividend payout ratio is presently 15.19%.

About ConocoPhillips

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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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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