State of Alaska Department of Revenue increased its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 114.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 324,995 shares of the energy producer’s stock after purchasing an additional 173,673 shares during the period. State of Alaska Department of Revenue’s holdings in ConocoPhillips were worth $40,673,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. State Street Corp raised its holdings in ConocoPhillips by 73.2% during the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the period. BlackRock Inc. boosted its holdings in shares of ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares during the period. Wellington Management Group LLP boosted its holdings in shares of ConocoPhillips by 12.0% in the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after buying an additional 1,609,759 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ConocoPhillips by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock worth $1,457,978,000 after acquiring an additional 74,261 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of ConocoPhillips by 10.8% during the first quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock worth $1,344,017,000 after acquiring an additional 995,392 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.
ConocoPhillips Stock Down 0.0%
NYSE COP traded down $0.03 during trading on Thursday, hitting $142.31. The stock had a trading volume of 2,583,432 shares, compared to its average volume of 8,044,803. The company has a market capitalization of $170.96 billion, a PE ratio of 18.82, a P/E/G ratio of 1.44 and a beta of 0.24. The company’s 50-day moving average price is $131.03 and its two-hundred day moving average price is $122.22. 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 12 month low of $85.57 and a 12 month high of $143.13.
ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.42 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 10.84 EPS for the current year.
ConocoPhillips Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. UBS Group boosted their price objective on shares of ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, September 14th. The Goldman Sachs Group reduced their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.62.
View Our Latest Stock Report on ConocoPhillips
Insider Activity at ConocoPhillips
In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
ConocoPhillips Company Profile
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.
The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.
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