Capital International Investors Raises Position in ConocoPhillips $COP

Capital International Investors grew its holdings in shares of ConocoPhillips (NYSE:COP) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,360,060 shares of the energy producer’s stock after purchasing an additional 2,714,663 shares during the quarter. Capital International Investors’ holdings in ConocoPhillips were worth $4,527,230,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Group Investment Management PTE. LTD. raised its position in ConocoPhillips by 9.2% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 17,684 shares of the energy producer’s stock valued at $1,655,000 after purchasing an additional 1,495 shares during the period. Cookson Peirce & Co. Inc. raised its position in ConocoPhillips by 13.2% in the fourth quarter. Cookson Peirce & Co. Inc. now owns 9,787 shares of the energy producer’s stock valued at $916,000 after purchasing an additional 1,143 shares during the period. Havemeyer Place LP purchased a new position in ConocoPhillips in the fourth quarter valued at about $348,000. Greykasell Wealth Strategies Inc. purchased a new position in ConocoPhillips in the fourth quarter valued at about $71,000. Finally, MCF Advisors LLC raised its position in ConocoPhillips by 19.2% in the fourth quarter. MCF Advisors LLC now owns 3,125 shares of the energy producer’s stock valued at $293,000 after purchasing an additional 504 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 694,891 shares of company stock valued at $88,594,092. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Down 1.8%

NYSE:COP opened at $117.10 on Friday. The company has a market capitalization of $142.66 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The stock has a 50-day simple moving average of $122.08 and a 200 day simple moving average of $109.43. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued 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. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts predict that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

Wall Street Analyst Weigh In

Several research analysts have commented on COP shares. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Morgan Stanley lifted their target price on ConocoPhillips from $149.00 to $153.00 and gave the stock an “overweight” rating in a research report on Thursday, May 21st. Truist Financial set a $128.00 target price on ConocoPhillips in a research report on Friday, May 1st. Raymond James Financial dropped their target price on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Finally, Susquehanna lifted their target price on ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.48.

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.