ConocoPhillips $COP Shares Acquired by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management increased its ConocoPhillips stake by 68.6% in the third quarter, owning 31,215 shares valued at approximately $3.91 million. Institutional investors collectively hold 82.36% of the company.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $142.50, despite mixed target-price adjustments.
• ConocoPhillips exceeded quarterly expectations with $3.24 in EPS versus a $2.90 estimate and revenue of $19.52 billion. The company also maintains a quarterly dividend of $0.84 per share, representing a 2.6% yield.

Ferguson Wellman Capital Management Inc. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 68.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,215 shares of the energy producer's stock after buying an additional 12,703 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in ConocoPhillips were worth $3,907,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Patten Group Inc. grew its holdings in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after acquiring an additional 83 shares in the last quarter. IFC Advisors LLC raised its holdings in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after purchasing an additional 84 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of ConocoPhillips by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Blue Trust Inc. lifted its position in shares of ConocoPhillips by 0.4% during the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock worth $2,791,000 after purchasing an additional 92 shares during the last quarter. Finally, Sigma Planning Corp lifted its position in shares of ConocoPhillips by 0.6% during the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock worth $2,120,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

COP has been the topic of several recent analyst reports. Truist Financial increased their target price on ConocoPhillips from $115.00 to $130.00 and gave the company a "hold" rating in a report on Monday, August 10th. Mizuho decreased their price target on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a report on Tuesday, July 7th. Wells Fargo & Company upped their price objective on ConocoPhillips from $183.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Morgan Stanley increased their price objective on ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Finally, Barclays cut their target price on ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.50.

ConocoPhillips Stock Performance

Shares of COP stock opened at $128.41 on Tuesday. The stock's 50-day moving average is $128.54 and its two-hundred day moving average is $121.84. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $141.62. The firm has a market cap of $154.26 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 1.34 and a beta of 0.24.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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 for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company's revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. Analysts predict that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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