AIA Group Ltd Purchases 20,633 Shares of ConocoPhillips (NYSE:COP)

Key Points

• AIA Group Ltd doubled its stake in ConocoPhillips, owning 41,263 shares valued at approximately $4.33 million after acquiring an additional 20,633 shares in the first quarter.
• The energy producer reported $1.42 EPS for the recent quarter, surpassing analysts' expectations, with a revenue of $14.94 billion, up 4.3% year-over-year.
• ConocoPhillips announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.3%, with an ex-dividend date set for August 18th.

AIA Group Ltd raised its position in ConocoPhillips (NYSE:COP - Free Report) by 100.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 41,263 shares of the energy producer's stock after acquiring an additional 20,633 shares during the period. AIA Group Ltd's holdings in ConocoPhillips were worth $4,333,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. 10Elms LLP bought a new stake in ConocoPhillips during the fourth quarter worth $28,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the first quarter worth $35,000. IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the first quarter valued at $37,000. Fourth Dimension Wealth LLC bought a new stake in shares of ConocoPhillips in the fourth quarter valued at $39,000. Finally, MorganRosel Wealth Management LLC bought a new stake in shares of ConocoPhillips in the first quarter valued at $42,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Susquehanna decreased their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial boosted their target price on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Piper Sandler restated an "overweight" rating and set a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Scotiabank boosted their target price on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Finally, UBS Group increased their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $120.84.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost 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 approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing 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 Stock Up 1.1%

Shares of NYSE:COP traded up $1.01 during trading on Tuesday, hitting $94.54. The stock had a trading volume of 7,524,697 shares, compared to its average volume of 6,269,311. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market capitalization of $118.07 billion, a PE ratio of 12.69, a PEG ratio of 2.43 and a beta of 0.67. The firm's fifty day moving average is $93.04 and its 200 day moving average is $93.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The firm had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the company earned $1.98 EPS. The business's revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

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.