Generali Powszechne Towarzystwo Emerytalne Invests $42.57 Million in ConocoPhillips $COP

Generali Powszechne Towarzystwo Emerytalne acquired a new stake in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 322,500 shares of the energy producer’s stock, valued at approximately $42,570,000. ConocoPhillips comprises approximately 7.5% of Generali Powszechne Towarzystwo Emerytalne’s portfolio, making the stock its 2nd largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares during the last quarter. Capital International Investors raised its position in shares of ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after buying an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after buying an additional 2,350,645 shares during the period. Franklin Resources Inc. lifted its stake in shares of ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after buying an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after acquiring an additional 193,401 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $106.33 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company has a market cap of $129.55 billion, a P/E ratio of 18.05, a P/E/G ratio of 1.18 and a beta of 0.11. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The firm’s 50 day moving average is $117.55 and its two-hundred day moving average is $111.85.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. Analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several analyst reports. Morgan Stanley boosted their price target on ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, May 21st. UBS Group raised their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Roth Mkm raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $124.00 to $130.00 in a research report on Monday. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Piper Sandler increased their target price on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.32.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support investor confidence in the stock. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
• Positive Sentiment: ConocoPhillips was named to RBC Capital’s June Global Energy Best Ideas list, reinforcing the view that analysts see upside potential in the name. ConocoPhillips (COP) Named to RBC Capital’s June Global Energy Best Ideas List
• Neutral Sentiment: The company announced it will host its second-quarter earnings conference call on Aug. 6, keeping attention on upcoming results and guidance. ConocoPhillips to hold second-quarter earnings conference call on Thursday, Aug. 6
• Negative Sentiment: Broader oil-and-gas shares fell after crude dropped to its lowest level since the start of the Iran conflict, as easing geopolitical risk and resumed tanker traffic pressured oil prices and upstream producers like COP. TechnipFMC and Valaris Shares Plummet, What You Need To Know

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.