ConocoPhillips (NYSE:COP) Shares Bought by AIA Group Ltd

AIA Group Ltd grew its holdings in ConocoPhillips (NYSE:COP) by 43.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,898 shares of the energy producer’s stock after acquiring an additional 7,824 shares during the quarter. AIA Group Ltd’s holdings in ConocoPhillips were worth $3,006,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Morgan Stanley increased its stake in ConocoPhillips by 26.6% during the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. Northern Trust Corp increased its position in shares of ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after acquiring an additional 386,276 shares during the period. Bank of New York Mellon Corp increased its holdings in ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after buying an additional 1,152,907 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of ConocoPhillips by 98,832.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after purchasing an additional 8,575,696 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after purchasing an additional 659,632 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.6 %

NYSE COP traded down $0.72 on Thursday, reaching $127.61. The stock had a trading volume of 2,279,992 shares, compared to its average volume of 5,435,498. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The stock has a fifty day moving average price of $119.92 and a two-hundred day moving average price of $117.01. The firm has a market capitalization of $150.12 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 2.77 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Truist Financial lowered their target price on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Raymond James dropped their target price on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.00.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by corporate insiders.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.