Amundi Has $537.07 Million Stock Position in ConocoPhillips $COP

Key Points

• Amundi increased its ConocoPhillips stake by 1.4% in the second quarter, holding 5.17 million shares worth approximately $537.1 million. Institutional investors and hedge funds collectively own 82.36% of the company.
• ConocoPhillips exceeded quarterly expectations, reporting $3.24 in EPS versus the $2.90 consensus and $19.52 billion in revenue, up 32.4% year over year. The company also pays a quarterly dividend of $0.84 per share, for a 2.5% yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $140.29, while COP recently traded near its 52-week high at $134.23.

Amundi lifted its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,166,069 shares of the energy producer's stock after purchasing an additional 70,251 shares during the period. Amundi owned 0.43% of ConocoPhillips worth $537,065,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in COP. Frazier Financial Advisors LLC boosted its holdings in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer's stock worth $32,000 after buying an additional 145 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of ConocoPhillips during the 4th quarter worth about $25,000. Ballast Advisors LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $36,000. Evergreen Advisors LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at about $36,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $32,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $134.23 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The firm has a market cap of $161.26 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.41 and a beta of 0.13. The stock's 50-day moving average is $120.15 and its 200-day moving average is $119.49. ConocoPhillips has a one year low of $85.57 and a one year high of $137.42.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.ConocoPhillips's quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. Equities analysts predict that ConocoPhillips will post 10.54 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Capital One Financial reduced their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a research note on Monday, May 18th. Susquehanna increased their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a report on Tuesday, August 11th. Argus lifted their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price target on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average price target of $140.29.

ConocoPhillips Profile

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.

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