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Cohen Klingenstein LLC Has $3.03 Million Stock Position in ConocoPhillips (NYSE:COP)

Financial News Live · Sep 23, 2022 16:01

Cohen Klingenstein LLC lessened its position in shares of ConocoPhillips (NYSE:COP – Get Rating) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,775 shares of the energy producer's stock after selling 520 shares during the quarter. Cohen Klingenstein LLC's holdings in ConocoPhillips were worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in ConocoPhillips by 62.4% in the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer's stock valued at $2,346,309,000 after buying an additional 9,014,700 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in ConocoPhillips in the 1st quarter valued at $702,569,000. BlackRock Inc. boosted its stake in ConocoPhillips by 3.4% in the 4th 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 in the last quarter. Capital Research Global Investors boosted its stake in ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer's stock valued at $1,233,506,000 after buying an additional 2,715,820 shares in the last quarter. Finally, Cowa LLC boosted its stake in ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer's stock valued at $2,383,000 after buying an additional 2,339,100 shares in the last quarter. Institutional investors and hedge funds own 79.66% of the company's stock.

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Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

ConocoPhillips Trading Down 8.8 %

Shares of COP stock traded down $9.67 on Friday, reaching $100.39. 565,882 shares of the stock were exchanged, compared to its average volume of 6,914,243. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.54 and a quick ratio of 1.44. ConocoPhillips has a one year low of $62.25 and a one year high of $124.08. The stock has a 50 day moving average price of $102.42 and a 200 day moving average price of $101.24. The stock has a market cap of $129.85 billion, a PE ratio of 8.30, a P/E/G ratio of 0.39 and a beta of 1.31.

ConocoPhillips (NYSE:COP – Get Rating) last announced its quarterly earnings data 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 return on equity of 31.24% and a net margin of 23.10%. During the same period last year, the firm earned $1.27 EPS. Equities research analysts forecast that ConocoPhillips will post 14.54 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips's dividend payout ratio (DPR) is presently 15.19%.

Analyst Upgrades and Downgrades

Several analysts recently commented on COP shares. Morgan Stanley boosted their price target on ConocoPhillips from $117.00 to $118.00 and gave the company an "overweight" rating in a research note on Monday, August 29th. StockNews.com downgraded ConocoPhillips from a "buy" rating to a "hold" rating in a research report on Tuesday, August 16th. Mizuho cut their price objective on ConocoPhillips from $148.00 to $138.00 and set a "buy" rating for the company in a research report on Thursday, August 18th. Barclays lifted their price objective on ConocoPhillips from $142.00 to $153.00 and gave the company an "overweight" rating in a research report on Wednesday, August 31st. Finally, Piper Sandler lifted 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. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.79.

About ConocoPhillips

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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.