ConocoPhillips (NYSE:COP) Shares Sold by Swiss National Bank

Swiss National Bank cut its stake in ConocoPhillips (NYSE:COP) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,744,515 shares of the energy producer’s stock after selling 147,700 shares during the period. Swiss National Bank’s holdings in ConocoPhillips were worth $434,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in COP. Northern Trust Corp boosted its position in shares of ConocoPhillips by 3.2% during the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after acquiring an additional 386,276 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after buying an additional 1,152,907 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 2.8% during the 4th quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after buying an additional 204,714 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after acquiring an additional 74,278 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.4 %

NYSE:COP traded down $1.77 during mid-day trading on Thursday, hitting $122.57. The stock had a trading volume of 3,188,616 shares, compared to its average volume of 5,317,681. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The stock has a 50-day simple moving average of $123.43 and a two-hundred day simple moving average of $117.72. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $144.19 billion, a PE ratio of 13.73, a PEG ratio of 2.76 and a beta of 1.25.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 9.11 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now directly owns 44,153 shares in the company, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders sold a total of 700,775 shares of company stock worth $87,615,169 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on COP. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Scotiabank boosted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Piper Sandler lifted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Mizuho reissued a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.