ConocoPhillips (NYSE:COP) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 379.7%, holding over 40 million shares worth approximately $4.2 billion, positioning it as their 26th largest investment.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, indicating a 3.3% yield at an annualized rate of $3.12.
• Analysts have mixed projections for ConocoPhillips, with price targets ranging from $100 to $127, while the stock currently has an average rating of "Moderate Buy."

Charles Schwab Investment Management Inc. raised its position in ConocoPhillips (NYSE:COP - Free Report) by 379.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,094,754 shares of the energy producer's stock after buying an additional 31,736,423 shares during the period. ConocoPhillips comprises 0.8% of Charles Schwab Investment Management Inc.'s investment portfolio, making the stock its 26th biggest position. Charles Schwab Investment Management Inc. owned approximately 3.17% of ConocoPhillips worth $4,210,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Elevation Point Wealth Partners LLC lifted its stake in shares of ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. lifted its stake in shares of ConocoPhillips by 159.6% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after purchasing an additional 30,000 shares during the last quarter. ORG Wealth Partners LLC grew its holdings in shares of ConocoPhillips by 853.3% during the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares during the period. Finally, Hennessy Advisors Inc. increased its position in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on COP. Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Wells Fargo & Company restated an "overweight" rating and issued a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Roth Capital reaffirmed a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a research report on Thursday. Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Finally, Piper Sandler restated an "overweight" rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus price target of $120.63.

ConocoPhillips Stock Up 1.4%

COP stock traded up $1.31 during mid-day trading on Friday, reaching $93.91. The company had a trading volume of 8,764,610 shares, compared to its average volume of 6,026,880. The firm has a fifty day simple moving average of $92.77 and a 200 day simple moving average of $93.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.13 and a current ratio of 1.27. The company has a market capitalization of $118.72 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $14.39 billion. During the same quarter last year, the company earned $1.98 earnings per share. The firm's revenue was up 4.3% compared to the same quarter last year. Analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced 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 is Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's payout ratio is presently 39.64%.

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.