Concentric Wealth Management LLC cut its holdings in ConocoPhillips (NYSE: COP – Get Rating) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,156 shares of the energy producer’s stock after selling 160 shares during the period. Concentric Wealth Management LLC’s holdings in ConocoPhillips were worth $ 616,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in ConocoPhillips by 3.4% in the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $ 8,017,310,000 after acquiring an additional 3,652,817 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ConocoPhillips by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 22,672,355 shares of the energy producer’s stock valued at $ 1,631,930,000 after acquiring an additional 766,425 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in ConocoPhillips by 23.1% in the fourth quarter. Nuveen Asset Management LLC now owns 10,653,790 shares of the energy producer’s stock valued at $ 768,990,000 after acquiring an additional 2,001,581 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in ConocoPhillips by 9.2% in the third quarter. UBS Asset Management Americas Inc. now owns 6,262,480 shares of the energy producer’s stock valued at $ 424,408,000 after acquiring an additional 529,105 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in ConocoPhillips by 4.0% in the fourth quarter. Fisher Asset Management LLC now owns 6,193,979 shares of the energy producer’s stock valued at $ 447,081,000 after acquiring an additional 239,270 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company stock.
In other ConocoPhillips news, EVP Nicholas G. Olds sold 19,200 shares of the company stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $ 110.51, for a total value of $ 2,121,792.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy A. Leach sold 40,603 shares of the stock in a transaction dated Thursday, May 19th. The stock was sold at an average price of $ 102.33, for a total transaction of $ 4,154,904.99. Following the sale, the director now owns 666,002 shares of the company stock, valued at approximately $ 68,151,984.66. The disclosure for this sale can be found here. Insiders sold 644,703 shares of company stock valued at $ 77,172,426 in the last 90 days. 0.08% of the stock is currently owned by insiders.
A number of analysts have issued reports on COP shares. Truist Financial boosted their target price on ConocoPhillips from $ 115.00 to $ 130.00 in a research report on Thursday, April 21st. Susquehanna boosted their target price on ConocoPhillips from $ 108.00 to $ 129.00 in a research report on Monday, April 25th. The Goldman Sachs Group cut their target price on ConocoPhillips from $ 140.00 to $ 123.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their price target on ConocoPhillips from $ 114.00 to $ 130.00 and gave the stock an “overweight” rating in a research report on Friday, March 11th. Finally, Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $ 110.00 to $ 135.00 in a research report on Tuesday, March 8th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $ 110.91.
NYSE COP opened at $ 90.91 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.51 and a quick ratio of 1.41. ConocoPhillips has a 1 year low of $ 51.41 and a 1 year high of $ 124.08. The company has a market capitalization of $ 117.59 billion, a PE ratio of 9.37, a P / E / G ratio of 0.31 and a beta of 1.34. The company has a fifty day moving average of $ 104.57 and a two-hundred day moving average of $ 94.42.
ConocoPhillips (NYSE: COP – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The energy producer reported $ 3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 3.24 by $ 0.03. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company had revenue of $ 19.29 billion during the quarter, compared to the estimate consensus of $ 18.36 billion. During the same quarter in the prior year, the firm posted $ 0.69 earnings per share. ConocoPhillips’s revenue for the quarter was up 82.7% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 15 earnings per share for the current year.
The business also recently disclosed a dividend, which will be paid on Friday, July 15th. Shareholders of record on Tuesday, June 28th will be paid a $ 0.70 dividend. This represents a yield of 3.21%. The ex-dividend date is Monday, June 27th. This is an increase from ConocoPhillips’s previous dividend of $ 0.30. ConocoPhillips’s dividend payout ratio is currently 18.97%.
ConocoPhillips Company Profile: (Get Rating)
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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