Northern Capital Management Inc. Takes Position in ConocoPhillips (NYSE:COP)

Northern Capital Management Inc. bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,976 shares of the energy producer’s stock, valued at approximately $208,000.

Several other hedge funds have also recently made changes to their positions in the business. Deutsche Bank AG grew its stake in ConocoPhillips by 53.8% in the first quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after purchasing an additional 1,834,118 shares during the period. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Coign Capital Advisors LLC grew its stake in ConocoPhillips by 3.7% in the first quarter. Coign Capital Advisors LLC now owns 5,698 shares of the energy producer’s stock worth $598,000 after purchasing an additional 202 shares during the period. Citizens Financial Group Inc. RI grew its stake in ConocoPhillips by 135.1% in the first quarter. Citizens Financial Group Inc. RI now owns 189,976 shares of the energy producer’s stock worth $19,951,000 after purchasing an additional 109,182 shares during the period. Finally, Primecap Management Co. CA grew its stake in ConocoPhillips by 3.1% in the first quarter. Primecap Management Co. CA now owns 4,748,140 shares of the energy producer’s stock worth $498,650,000 after purchasing an additional 144,245 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Up 0.1%

Shares of NYSE:COP opened at $93.29 on Thursday. The company has a market cap of $117.93 billion, a P/E ratio of 11.85, a PEG ratio of 2.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock’s fifty day moving average price is $92.45 and its 200-day moving average price is $93.89.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the company posted $2.05 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several brokerages recently weighed in on COP. Raymond James Financial upped their price target on ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Royal Bank Of Canada reduced their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, June 11th. Piper Sandler reissued an “overweight” rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Finally, UBS Group increased their target price on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.33.

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.