ConocoPhillips $COP Shares Sold by Korea Investment CORP

Korea Investment CORP lowered its position in shares of ConocoPhillips (NYSE:COP) by 9.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 955,057 shares of the energy producer’s stock after selling 99,614 shares during the period. Korea Investment CORP owned approximately 0.08% of ConocoPhillips worth $100,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in COP. Bridgewater Associates LP boosted its position in shares of ConocoPhillips by 157.5% during the 4th quarter. Bridgewater Associates LP now owns 7,929 shares of the energy producer’s stock worth $786,000 after purchasing an additional 4,850 shares during the period. Jump Financial LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth approximately $1,128,000. GeoWealth Management LLC boosted its position in shares of ConocoPhillips by 19.0% during the 4th quarter. GeoWealth Management LLC now owns 8,564 shares of the energy producer’s stock worth $849,000 after purchasing an additional 1,367 shares during the period. Capital World Investors boosted its position in shares of ConocoPhillips by 0.3% during the 4th quarter. Capital World Investors now owns 8,653,331 shares of the energy producer’s stock worth $858,150,000 after purchasing an additional 26,157 shares during the period. Finally, Natixis boosted its position in shares of ConocoPhillips by 4.1% during the 4th quarter. Natixis now owns 206,938 shares of the energy producer’s stock worth $20,522,000 after purchasing an additional 8,115 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $95.39 on Monday. The stock has a market cap of $119.14 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.48 and a beta of 0.67. The company has a fifty day simple moving average of $93.61 and a 200-day simple moving average of $93.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month 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 quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.98 EPS. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 is Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on COP. Susquehanna lowered their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Mizuho decreased their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Bank of America decreased their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Raymond James Financial raised their price target on shares of ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Citigroup decreased their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.84.

ConocoPhillips 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.