Keybank National Association OH lessened its stake in ConocoPhillips (NYSE:COP – Free Report) by 3.7% in the first quarter, HoldingsChannel.com reports. The firm owned 309,191 shares of the energy producer’s stock after selling 11,856 shares during the quarter. Keybank National Association OH’s holdings in ConocoPhillips were worth $40,813,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in ConocoPhillips during the fourth quarter worth about $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at approximately $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $28,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $28,000. Finally, BNP Paribas purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on COP shares. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. Capital One Financial decreased their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Morgan Stanley lowered their target price on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, Jefferies Financial Group raised their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.76.
ConocoPhillips Trading Up 1.4%
Shares of ConocoPhillips stock opened at $104.64 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a market capitalization of $127.48 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.19 and a beta of 0.12. The business has a 50 day moving average price of $116.12 and a 200 day moving average price of $112.18.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. Sell-side analysts anticipate that ConocoPhillips will post 9.66 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.
About ConocoPhillips
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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