Flagship Harbor Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 19.3% during the second quarter, Holdings Channel.com reports. The fund owned 12,438 shares of the energy producer’s stock after purchasing an additional 2,011 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in ConocoPhillips were worth $1,289,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of COP. Moneta Group Investment Advisors LLC increased its position in ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after acquiring an additional 8,575,696 shares during the period. Morgan Stanley increased its position in ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after acquiring an additional 3,497,750 shares during the period. Cowa LLC increased its position in ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after acquiring an additional 2,339,100 shares during the period. Two Sigma Investments LP increased its position in ConocoPhillips by 794.6% during the first quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock worth $229,532,000 after acquiring an additional 2,054,974 shares during the period. Finally, Findlay Park Partners LLP bought a new position in ConocoPhillips during the fourth quarter worth about $207,728,000. 80.36% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on COP shares. Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Truist Financial raised their target price on shares of ConocoPhillips from $148.00 to $151.00 and gave the company a “buy” rating in a report on Friday, August 4th. StockNews.com started coverage on shares of ConocoPhillips in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $124.00 target price on shares of ConocoPhillips in a report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.63.
ConocoPhillips Stock Down 0.7 %
Shares of NYSE COP opened at $123.57 on Monday. The company has a market capitalization of $147.97 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 0.78 and a beta of 1.30. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.28 and a current ratio of 1.41. The company’s 50 day moving average price is $116.22 and its 200-day moving average price is $107.25.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). The firm had revenue of $12.88 billion during the quarter, compared to analyst estimates of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same quarter last year, the firm posted $3.91 EPS. Equities analysts forecast 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 given a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. ConocoPhillips’s dividend payout ratio (DPR) is currently 19.65%.
In other news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company insiders.
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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