DNB Asset Management AS boosted its stake in ConocoPhillips (NYSE: COP – Get Rating) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 266,813 shares of the energy producer’s stock after purchasing an additional 10,948 shares during the quarter. DNB Asset Management AS’s holdings in ConocoPhillips were worth $ 26,681,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of COP. BlackRock Inc. grew 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 worth $ 8,017,310,000 after purchasing an additional 3,652,817 shares during the period. Nuveen Asset Management LLC grew 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 worth $ 768,990,000 after purchasing an additional 2,001,581 shares during the period. Los Angeles Capital Management LLC grew its holdings in ConocoPhillips by 2,896.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,331,669 shares of the energy producer’s stock worth $ 96,120,000 after purchasing an additional 1,287,232 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in ConocoPhillips in the fourth quarter worth $ 91,672,000. Finally, Ruffer LLP grew its holdings in shares of ConocoPhillips by 970.3% during the fourth quarter. Ruffer LLP now owns 1,171,452 shares of the energy producer’s stock valued at $ 86,699,000 after buying an additional 1,062,002 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company stock.
In related news, EVP Nicholas G. Olds sold 19,200 shares of the company stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $ 110.51, for a total transaction of $ 2,121,792.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 584,900 shares of the company stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $ 121.21, for a total transaction of $ 70,895,729.00. Following the sale, the chief executive officer now owns 44,522 shares in the company, valued at $ 5,396,511.62. The disclosure for this sale can be found here. Insiders have sold a total of 644,703 shares of company stock worth $ 77,172,426 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.
Shares of COP stock opened at $ 93.74 on Monday. The firm has a market cap of $ 121.25 billion, a price-to-earnings ratio of 9.66, a P / E / G ratio of 0.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.41 and a current ratio of 1.51. ConocoPhillips has a 52 week low of $ 51.41 and a 52 week high of $ 124.08. The firm’s 50-day simple moving average is $ 105.29 and its two-hundred day simple moving average is $ 94.01.
ConocoPhillips (NYSE: COP – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The energy producer reported $ 3.27 EPS for the quarter, topping the consensus estimate of $ 3.24 by $ 0.03. The business had revenue of $ 19.29 billion for the quarter, compared to analyst estimates of $ 18.36 billion. ConocoPhillips had a net margin of 22.52% and a return on equity of 24.89%. The company revenue for the quarter was up 82.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $ 0.69 earnings per share. Analysts forecast that ConocoPhillips will post 15 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Friday, July 15th. Investors of record on Tuesday, June 28th will be paid a dividend of $ 0.70 per share. This is a boost from ConocoPhillips’s previous dividend of $ 0.30. This represents a dividend yield of 3.21%. The ex-dividend date is Monday, June 27th. ConocoPhillips’s dividend payout ratio is presently 18.97%.
A number of brokerages have recently issued reports on COP. Bank of America cut shares of ConocoPhillips from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $ 110.00 to $ 135.00 in a report on Tuesday, March 8th. Royal Bank of Canada lifted their price objective on shares of ConocoPhillips from $ 110.00 to $ 120.00 and gave the company an “outperform” rating in a report on Monday, March 7th. Truist Financial lifted their price objective on shares of ConocoPhillips from $ 115.00 to $ 130.00 in a report on Thursday, April 21st. Scotiabank upgraded shares of ConocoPhillips from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $ 110.00 to $ 115.00 in a report on Monday, April 18th. Finally, StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, May 14th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $ 108.61.
About ConocoPhillips: (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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