Capital International Sarl raised its stake in ConocoPhillips (NYSE:COP) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,016 shares of the energy producer’s stock after buying an additional 4,716 shares during the period. Capital International Sarl’s holdings in ConocoPhillips were worth $2,342,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Capital World Investors grew its position in ConocoPhillips by 7.6% during the 4th quarter. Capital World Investors now owns 19,480,517 shares of the energy producer’s stock worth $1,266,817,000 after purchasing an additional 1,379,501 shares in the last quarter. FMR LLC grew its position in ConocoPhillips by 16.0% during the 4th quarter. FMR LLC now owns 19,477,396 shares of the energy producer’s stock worth $1,266,615,000 after purchasing an additional 2,689,765 shares in the last quarter. Capital International Investors grew its position in ConocoPhillips by 8.0% during the 4th quarter. Capital International Investors now owns 18,108,471 shares of the energy producer’s stock worth $1,177,594,000 after purchasing an additional 1,345,285 shares in the last quarter. Bank of New York Mellon Corp grew its position in ConocoPhillips by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,007,587 shares of the energy producer’s stock worth $845,884,000 after purchasing an additional 1,989,360 shares in the last quarter. Finally, Boston Partners grew its position in ConocoPhillips by 21.0% during the 4th quarter. Boston Partners now owns 9,967,371 shares of the energy producer’s stock worth $648,220,000 after purchasing an additional 1,732,033 shares in the last quarter. 73.67% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of ConocoPhillips from $67.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. UBS Group lifted their price objective on shares of ConocoPhillips from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Scotiabank cut shares of ConocoPhillips from a “sector outperform” rating to a “sector perform” rating and set a $74.00 price objective on the stock. in a research report on Thursday, January 23rd. Cfra lowered their price objective on shares of ConocoPhillips from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Finally, Raymond James lowered their price objective on shares of ConocoPhillips from $63.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 17th. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. ConocoPhillips has a consensus rating of “Buy” and an average target price of $66.05.
In other news, SVP Ellen Desanctis sold 41,882 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $58.55, for a total transaction of $2,452,191.10. Following the transaction, the senior vice president now directly owns 32,902 shares in the company, valued at approximately $1,926,412.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.
Shares of ConocoPhillips stock traded up $0.46 on Thursday, hitting $31.40. 4,906,396 shares of the company traded hands, compared to its average volume of 16,149,939. The company has a 50-day moving average price of $46.28 and a 200 day moving average price of $56.47. The company has a quick ratio of 2.26, a current ratio of 2.40 and a debt-to-equity ratio of 0.42. ConocoPhillips has a 12-month low of $20.84 and a 12-month high of $69.60. The company has a market cap of $33.23 billion, a PE ratio of 4.91, a PEG ratio of 13.90 and a beta of 1.21.
ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Tuesday, February 4th. The energy producer reported $0.76 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.05). ConocoPhillips had a net margin of 19.60% and a return on equity of 11.84%. The company had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter in the prior year, the firm earned $1.13 earnings per share. Equities research analysts anticipate that ConocoPhillips will post -0.02 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 14th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Thursday, February 13th. ConocoPhillips’s dividend payout ratio is currently 46.80%.
ConocoPhillips announced that its Board of Directors has initiated a share buyback program on Tuesday, February 4th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the energy producer to repurchase up to 15.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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.
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