State of Wisconsin Investment Board grew its position in ConocoPhillips (NYSE:COP) by 21.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,185,985 shares of the energy producer’s stock after acquiring an additional 205,498 shares during the period. State of Wisconsin Investment Board owned about 0.09% of ConocoPhillips worth $62,822,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Grandview Asset Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at about $37,000. Edge Wealth Management LLC purchased a new stake in ConocoPhillips during the first quarter worth about $26,000. Harbour Investments Inc. purchased a new stake in ConocoPhillips during the first quarter worth about $30,000. Atwood & Palmer Inc. purchased a new stake in ConocoPhillips during the first quarter worth about $31,000. Finally, Better Money Decisions LLC purchased a new stake in ConocoPhillips during the first quarter worth about $32,000. 77.55% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently commented on COP. KeyCorp boosted their price objective on shares of ConocoPhillips from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial lifted their target price on shares of ConocoPhillips from $50.00 to $60.00 in a research report on Monday, April 19th. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Wednesday, May 5th. Sanford C. Bernstein lifted their target price on shares of ConocoPhillips from $63.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 21st. Finally, Argus lifted their target price on shares of ConocoPhillips from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, May 17th. Two analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. ConocoPhillips has an average rating of “Buy” and an average target price of $69.77.
Shares of COP stock opened at $57.02 on Thursday. The stock has a market capitalization of $76.94 billion, a P/E ratio of -380.11, a PEG ratio of 1.90 and a beta of 1.76. The company has a fifty day moving average price of $58.56. The company has a quick ratio of 1.88, a current ratio of 2.03 and a debt-to-equity ratio of 0.45. ConocoPhillips has a twelve month low of $27.53 and a twelve month high of $63.57.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, May 4th. The energy producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.12. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $7.73 billion. ConocoPhillips had a net margin of 0.08% and a negative return on equity of 1.85%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 4.09 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Monday, July 26th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 23rd. This represents a $1.72 annualized dividend and a yield of 3.02%. ConocoPhillips’s dividend payout ratio is presently -177.32%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.
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