30,000 Shares in ConocoPhillips $COP Bought by Kentucky Farm Bureau Mutual Insurance Co

Kentucky Farm Bureau Mutual Insurance Co purchased a new stake in shares of ConocoPhillips (NYSE:COP) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 30,000 shares of the energy producer’s stock, valued at approximately $3,119,000.

Several other hedge funds also recently made changes to their positions in the company. Capital International Investors grew its position in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after buying an additional 2,714,663 shares during the period. BlackRock Inc. lifted its position in ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of ConocoPhillips by 229.2% during the fourth quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after buying an additional 2,503,156 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of ConocoPhillips by 207.9% during the 1st quarter. Janus Henderson Group PLC now owns 3,697,232 shares of the energy producer’s stock valued at $488,030,000 after acquiring an additional 2,496,606 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 0.8%

Shares of COP stock opened at $130.72 on Thursday. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87. The stock has a market cap of $157.04 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.43 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $114.53 and a two-hundred day simple moving average of $117.32.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the previous year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 10.05 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.84 dividend. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

Analyst Ratings Changes

A number of research analysts recently weighed in on COP shares. Truist Financial increased their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Zacks Research downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. UBS Group increased their price target on ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Susquehanna raised their price target on ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research note on Tuesday, August 11th. Finally, Raymond James Financial cut their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $139.21.

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.