Norway Savings Bank lifted its position in ConocoPhillips (NYSE:COP – Get Rating) by 7.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,333 shares of the energy producer's stock after acquiring an additional 939 shares during the period. Norway Savings Bank's holdings in ConocoPhillips were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in shares of ConocoPhillips by 62.4% during the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer's stock worth $2,346,309,000 after purchasing an additional 9,014,700 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth $702,569,000. BlackRock Inc. raised its position in shares of ConocoPhillips by 3.4% in the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer's stock worth $8,017,310,000 after buying an additional 3,652,817 shares during the period. Capital Research Global Investors raised its position in shares of ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer's stock worth $1,233,506,000 after buying an additional 2,715,820 shares during the period. Finally, Cowa LLC raised its position in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer's stock worth $2,383,000 after buying an additional 2,339,100 shares during the period. 79.66% of the stock is owned by institutional investors and hedge funds.
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ConocoPhillips Stock Down 8.6 %
NYSE:COP opened at $100.59 on Friday. The company has a market capitalization of $130.11 billion, a price-to-earnings ratio of 8.31, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. ConocoPhillips has a one year low of $63.54 and a one year high of $124.08. The stock has a 50-day simple moving average of $102.78 and a 200 day simple moving average of $101.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.
ConocoPhillips (NYSE:COP – Get Rating) last issued its earnings results on Thursday, August 4th. The energy producer reported $3.91 EPS for the quarter, missing analysts' consensus estimates of $3.95 by ($0.04). ConocoPhillips had a net
margin of 23.10% and a return on equity of 31.24%. During the same period last year, the company earned $1.27 earnings per share. Sell-side analysts predict that ConocoPhillips will post 14.54 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The business also recently announced a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were paid a $1.40 dividend. The ex-dividend date was Thursday, September 29th. ConocoPhillips's payout ratio is currently 15.19%.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on COP. Barclays increased their target price on ConocoPhillips from $142.00 to $153.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 31st. Piper Sandler raised their price objective on ConocoPhillips from $123.00 to $134.00 and gave the company an "overweight" rating in a research report on Monday, September 12th. The Goldman Sachs Group cut their price objective on ConocoPhillips from $140.00 to $123.00 and set a "buy" rating on the stock in a research report on Wednesday, June 22nd. MKM Partners raised their price objective on ConocoPhillips from $110.00 to $118.00 and gave the company a "buy" rating in a research report on Friday, August 26th. Finally, Societe Generale raised their price objective on ConocoPhillips to $127.00 in a research report on Thursday, June 9th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.79.
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by insiders.
ConocoPhillips Company Profile
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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's 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.
Further Reading
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