Cambiar Investors LLC Takes Position in ConocoPhillips $COP

Key Points

• Cambiar Investors LLC has acquired a new stake in ConocoPhillips, purchasing 448,516 shares valued at approximately $47.10 million, making it the firm's 15th largest position.
• ConocoPhillips has received a range of analyst ratings, with UBS increasing its target price from $111 to $115, while Piper Sandler raised their target to $123.
• The company also announced a quarterly dividend of $0.78 per share, resulting in an annualized yield of 3.3%, expected to be paid on September 2nd.

Cambiar Investors LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 448,516 shares of the energy producer's stock, valued at approximately $47,103,000. ConocoPhillips comprises about 2.0% of Cambiar Investors LLC's investment portfolio, making the stock its 15th largest holding.

Several other large investors have also recently modified their holdings of COP. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new stake in ConocoPhillips in the first quarter valued at $658,981,000. Price T Rowe Associates Inc. MD increased its position in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares in the last quarter. Northern Trust Corp increased its position in shares of ConocoPhillips by 27.6% during the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after acquiring an additional 2,971,661 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 in the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.4%

Shares of COP traded down $0.3410 during trading hours on Tuesday, reaching $93.6590. 5,404,608 shares of the company traded hands, compared to its average volume of 6,820,897. The company's fifty day moving average price is $93.78 and its two-hundred day moving average price is $93.32. The company has a market capitalization of $116.97 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.67. 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 has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Insider Transactions at ConocoPhillips

In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on COP shares. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research note on Wednesday, July 23rd. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Royal Bank Of Canada decreased their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Finally, Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Sixteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $120.89.

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.