Banque Cantonale Vaudoise Invests $450,000 in ConocoPhillips (NYSE:COP)

Key Points

• Banque Cantonale Vaudoise purchased 4,287 shares of ConocoPhillips, valued at approximately $450,000, during the first quarter of the year.
• Other institutional investors, including Price T Rowe Associates and ORG Wealth Partners, significantly increased their stakes in ConocoPhillips, leading to 82.36% of the company's stock being owned by institutional investors and hedge funds.
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, translating to an annualized yield of 3.4%, with a current dividend payout ratio of 39.64%.

Banque Cantonale Vaudoise purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,287 shares of the energy producer's stock, valued at approximately $450,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Invesco Ltd. lifted its holdings in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after buying an additional 4,211,939 shares during the period. Northern Trust Corp boosted its stake in ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. GAMMA Investing LLC grew its holdings in ConocoPhillips by 10,440.1% during the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock worth $311,299,000 after acquiring an additional 2,936,066 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in ConocoPhillips by 116.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,318,179 shares of the energy producer's stock worth $428,234,000 after acquiring an additional 2,324,080 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 2.7%

Shares of ConocoPhillips stock traded down $2.59 during midday trading on Friday, hitting $92.75. The company's stock had a trading volume of 6,348,613 shares, compared to its average volume of 5,734,546. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $117.25 billion, a P/E ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67. The stock has a 50-day simple moving average of $91.97 and a 200-day simple moving average of $93.99.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the prior year, the business earned $2.05 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is currently 39.64%.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the company's stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada cut their price target on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Piper Sandler reissued an "overweight" rating and set a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Wells Fargo & Company restated an "overweight" rating and set a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating for the company in a research report on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, 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.