Northwestern Mutual Wealth Management Co. grew its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 530,561 shares of the energy producer’s stock after buying an additional 8,042 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ConocoPhillips were worth $49,666,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after buying an additional 408,304 shares during the last quarter. Capital International Investors grew its holdings in shares of ConocoPhillips by 18.2% during the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of ConocoPhillips by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after buying an additional 193,401 shares during the last quarter. Ameriprise Financial Inc. lifted its position in ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after purchasing an additional 2,216,010 shares during the period. Finally, Primecap Management Co. CA boosted its holdings in ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after purchasing an additional 2,467,555 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on COP shares. Argus raised their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Piper Sandler raised their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. The Goldman Sachs Group raised their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Susquehanna raised their target price on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Finally, Wolfe Research raised their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.60.
Insiders Place Their Bets
In other ConocoPhillips news, Director Timothy A. Leach sold 40,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares in the company, valued at approximately $48,847,754.69. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares in the company, valued at $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by corporate insiders.
ConocoPhillips Stock Down 0.8%
COP opened at $114.01 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $84.33 and a 1-year high of $135.87. The company has a market capitalization of $138.90 billion, a PE ratio of 19.36, a PEG ratio of 1.28 and a beta of 0.14. The firm’s 50 day simple moving average is $123.09 and its two-hundred day simple moving average is $108.46.
ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm earned $2.09 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that ConocoPhillips will post 9.92 EPS for the current year.
ConocoPhillips Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be given a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.
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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