ConocoPhillips (NYSE:COP) Shares Acquired by CacheTech Inc.

CacheTech Inc. lifted its position in shares of ConocoPhillips (NYSE:COP) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,025 shares of the energy producer’s stock after acquiring an additional 530 shares during the period. CacheTech Inc.’s holdings in ConocoPhillips were worth $3,048,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. 10Elms LLP bought a new position in shares of ConocoPhillips in the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC grew its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new position in shares of ConocoPhillips in the first quarter worth $31,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips in the first quarter worth $35,000. Finally, IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips in the first quarter worth $37,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Mizuho decreased their target price on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. UBS Group boosted their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company reiterated an “overweight” rating and issued a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.84.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 0.3%

Shares of COP opened at $95.39 on Friday. The business’s 50-day moving average price is $93.61 and its 200 day moving average price is $93.41. The stock has a market capitalization of $119.14 billion, a P/E ratio of 12.80, a P/E/G ratio of 2.48 and a beta of 0.67. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The company had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. During the same quarter in the previous year, the business posted $1.98 EPS. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

About ConocoPhillips

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.