My Legacy Advisors LLC acquired a new position in ConocoPhillips (NYSE: COP – Get Rating) during the first quarter, according to its most recent filing with the SEC. The firm acquired 5,873 shares of the energy producer’s stock, valued at approximately $ 587,000.
Several other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in ConocoPhillips by 3.4% during the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock valued at $ 8,017,310,000 after buying an additional 3,652,817 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ConocoPhillips by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 22,672,355 shares of the energy producer’s stock worth $ 1,631,930,000 after purchasing an additional 766,425 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of ConocoPhillips by 23.1% in the 4th 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 in the last quarter. Morgan Stanley increased its holdings in shares of ConocoPhillips by 1.9% in the 2nd quarter. Morgan Stanley now owns 9,008,903 shares of the energy producer’s stock worth $ 548,643,000 after purchasing an additional 165,817 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of ConocoPhillips by 9.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 6,262,480 shares of the energy producer’s stock worth $ 424,408,000 after purchasing an additional 529,105 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company stock.
Shares of COP opened at $ 93.74 on Monday. The business’s 50-day moving average is $ 105.29 and its two-hundred day moving average is $ 94.01. The company has a market capitalization of $ 121.25 billion, a P / E 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 fifty-two week low of $ 51.41 and a fifty-two week high of $ 124.08.
ConocoPhillips (NYSE: COP – Get Rating) last posted its earnings results on Thursday, May 5th. The energy producer reported $ 3.27 EPS for the quarter, beating analysts’ consensus estimates of $ 3.24 by $ 0.03. ConocoPhillips had a return on equity of 24.89% and a net margin of 22.52%. The firm had revenue of $ 19.29 billion for the quarter, compared to analysts’ expectations of $ 18.36 billion. During the same period last year, the firm earned $ 0.69 EPS. The company quarterly revenue was up 82.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 15 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, June 28th will be given a dividend of $ 0.70 per share. The ex-dividend date is Monday, June 27th. This is a boost from ConocoPhillips’s previous dividend of $ 0.30. This represents a dividend yield of 3.21%. ConocoPhillips’s dividend payout ratio (DPR) is 18.97%.
In related news, CEO Ryan Michael Lance sold 584,900 shares of ConocoPhillips stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $ 121.21, for a total value of $ 70,895,729.00. Following the sale, the chief executive officer now directly owns 44,522 shares in the company, valued at approximately $ 5,396,511.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas G. Olds sold 19,200 shares of ConocoPhillips stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $ 110.51, for a total value of $ 2,121,792.00. 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. Insiders own 0.40% of the company stock.
Several analysts recently commented on the company. Bank of America lowered ConocoPhillips from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $ 110.00 to $ 135.00 in a report on Tuesday, March 8th. Truist Financial boosted their price target on ConocoPhillips from $ 115.00 to $ 130.00 in a report on Thursday, April 21st. Societe Generale boosted their price target on ConocoPhillips to $ 127.00 in a report on Thursday, June 9th. Scotiabank raised ConocoPhillips from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $ 110.00 to $ 115.00 in a report on Monday, April 18th. Finally, Barclays boosted their price target on ConocoPhillips from $ 132.00 to $ 142.00 and gave the company an “overweight” rating in a report on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price 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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