Glenview Trust Co bought a new position in ConocoPhillips (NYSE:COP – Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,629 shares of the energy producer’s stock, valued at approximately $1,937,000.
Other large investors have also recently made changes to their positions in the company. AXA S.A. grew its position in ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. grew its position in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Osterweis Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $151,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the company. Susquehanna upped their price objective on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. BMO Capital Markets dropped their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Jefferies Financial Group lifted their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a report on Monday, May 18th. Finally, Truist Financial upped their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $140.29.
ConocoPhillips Price Performance
Shares of NYSE COP opened at $130.46 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.88. The stock has a market cap of $156.73 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.36 and a beta of 0.11. The stock has a fifty day moving average of $117.42 and a 200-day moving average of $118.56.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 10.55 earnings per share for the current year.
ConocoPhillips Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is currently 44.44%.
Insider Buying and Selling
In related news, SVP Andrew D. Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by insiders.
ConocoPhillips Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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