Capital International Inc. CA Grows Stock Position in ConocoPhillips $COP

Key Points

• Capital International Inc. CA increased its stake in ConocoPhillips by 31.6% in Q3, buying 162,781 shares to hold 677,130 shares worth about $64.05 million (≈0.05% of the company).
• Large insider sales were reported: Director Timothy A. Leach sold 40,000 shares at $118.79, and CEO Ryan Michael Lance sold 500,708 shares at $92.50 (a 60.57% drop in his ownership); insiders now hold about 0.24% of the stock.
• ConocoPhillips missed quarterly estimates with EPS of $1.02 vs. $1.23 expected and revenue down 3.7% YoY, pays a $0.84 quarterly dividend (annualized $3.36, yield 2.9%), and carries a consensus analyst rating of Moderate Buy with a $117.54 price target.

Capital International Inc. CA increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 677,130 shares of the energy producer's stock after buying an additional 162,781 shares during the period. Capital International Inc. CA owned about 0.05% of ConocoPhillips worth $64,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Howard Hughes Medical Institute bought a new position in ConocoPhillips during the 2nd quarter worth approximately $25,000. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the third quarter valued at $26,000. Cedar Mountain Advisors LLC increased its stake in ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer's stock valued at $30,000 after purchasing an additional 116 shares during the last quarter. BNP Paribas acquired a new stake in shares of ConocoPhillips during the second quarter worth $33,000. Finally, Bfsg LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $36,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Activity

In other news, Director Timothy A. Leach sold 40,000 shares of the company's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the completion of the sale, the director directly owned 411,211 shares of the company's stock, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of the company's stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company's stock, valued at $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

NYSE COP opened at $117.09 on Tuesday. The company has a 50-day moving average price of $104.71 and a two-hundred day moving average price of $96.34. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $122.50. The stock has a market cap of $144.69 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.97 and a beta of 0.27. The company has a current ratio of 1.30, a quick ratio of 1.14 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.21). ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same quarter in the prior year, the firm posted $1.98 earnings per share. The business's quarterly revenue was down 3.7% on a year-over-year basis. Analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Wednesday, February 18th were issued a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips's dividend payout ratio is presently 53.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COP shares. Piper Sandler lifted their price target on shares of ConocoPhillips from $108.00 to $111.00 and gave the company an "overweight" rating in a report on Friday, February 6th. Mizuho increased their price objective on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an "outperform" rating in a research note on Friday, December 12th. Citigroup lifted their target price on ConocoPhillips from $125.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. BMO Capital Markets upped their target price on ConocoPhillips from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley dropped their price target on ConocoPhillips from $117.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $117.54.

About ConocoPhillips

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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