Geode Capital Management LLC Has $2.50 Billion Stock Holdings in ConocoPhillips $COP

Geode Capital Management LLC lowered its holdings in ConocoPhillips (NYSE:COP) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,968,333 shares of the energy producer’s stock after selling 49,293 shares during the quarter. Geode Capital Management LLC owned 2.21% of ConocoPhillips worth $2,497,798,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. CWM LLC increased its holdings in shares of ConocoPhillips by 44.7% during the 1st quarter. CWM LLC now owns 112,764 shares of the energy producer’s stock worth $11,843,000 after purchasing an additional 34,853 shares during the period. Florida Financial Advisors LLC grew its position in ConocoPhillips by 12.5% during the first quarter. Florida Financial Advisors LLC now owns 3,519 shares of the energy producer’s stock worth $369,000 after buying an additional 391 shares in the last quarter. Edgestream Partners L.P. increased its stake in ConocoPhillips by 418.6% during the first quarter. Edgestream Partners L.P. now owns 31,452 shares of the energy producer’s stock valued at $3,303,000 after acquiring an additional 25,387 shares during the period. Signaturefd LLC raised its holdings in ConocoPhillips by 5.4% in the 1st quarter. Signaturefd LLC now owns 26,544 shares of the energy producer’s stock valued at $2,788,000 after acquiring an additional 1,371 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of ConocoPhillips by 326.8% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 364,734 shares of the energy producer’s stock worth $365,000 after acquiring an additional 279,272 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $90.66 on Wednesday. The stock has a market capitalization of $113.23 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $115.38. The firm has a 50 day moving average of $91.20 and a 200-day moving average of $91.98.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.78 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 17th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The shares were bought at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, the director owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COP. Jefferies Financial Group lowered their price objective on ConocoPhillips from $129.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets raised their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Capital One Financial lifted their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Finally, Morgan Stanley dropped their price target on shares of ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.54.

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.