Banco Bilbao Vizcaya Argentaria S.A. Buys 16,567 Shares of ConocoPhillips $COP

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in ConocoPhillips by 16.5% in the 1st quarter, now holding 116,785 shares valued at approximately $12.25 million.
• ConocoPhillips reported a Q2 earnings per share (EPS) of $1.42, exceeding estimates, with a revenue of $14.94 billion, marking a 4.3% increase from the previous year.
• The company declared a quarterly dividend of $0.78 per share, reflecting an annualized yield of 3.3% with a payout ratio of approximately 41.88%.

Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in ConocoPhillips (NYSE:COP - Free Report) by 16.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,785 shares of the energy producer's stock after buying an additional 16,567 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in ConocoPhillips were worth $12,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 10Elms LLP bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC raised its stake in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC bought a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new stake in ConocoPhillips in the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips in the first quarter valued at approximately $37,000. Institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COP shares. Roth Capital restated a "buy" rating and issued a $108.00 price objective on shares of ConocoPhillips in a research note on Thursday, August 7th. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research note on Friday. UBS Group increased their target price on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday. Melius initiated coverage on ConocoPhillips in a research note on Wednesday. They set a "hold" rating and a $117.00 target price on the stock. Finally, Piper Sandler increased their target price on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.95.

ConocoPhillips Price Performance

ConocoPhillips stock traded up $1.8440 during mid-day trading on Friday, reaching $96.6240. 6,338,392 shares of the company were exchanged, compared to its average volume of 6,789,525. The company has a fifty day simple moving average of $93.80 and a 200-day simple moving average of $93.23. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market cap of $120.68 billion, a PE ratio of 12.97, a PEG ratio of 2.53 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the company earned $1.98 EPS. The company's revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.24% of the company's stock.

About ConocoPhillips

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.