Amundi Raises Stock Holdings in ConocoPhillips $COP

Key Points

• Amundi increased its stake in ConocoPhillips (NYSE:COP) by 3.6% during the first quarter, owning nearly 4.94 million shares valued at approximately $518.6 million.
• Institutional investors own about 82.36% of ConocoPhillips stock, with notable increases in holdings from Charles Schwab and Goldman Sachs, alongside a new position from Nuveen.
• Research firms have mixed ratings on ConocoPhillips, with a consensus rating of "Moderate Buy" and a price target averaging $120.95.

Amundi boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,937,898 shares of the energy producer's stock after purchasing an additional 172,996 shares during the period. Amundi owned about 0.39% of ConocoPhillips worth $518,578,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of COP. 10Elms LLP purchased a new position in ConocoPhillips in the 4th quarter worth approximately $28,000. Financial Network Wealth Advisors LLC grew its position in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after buying an additional 222 shares during the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $35,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $37,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.60 during mid-day trading on Monday, reaching $91.35. 9,731,414 shares of the stock traded hands, compared to its average volume of 8,009,294. The stock has a market capitalization of $114.09 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08. The business's 50-day moving average is $94.76 and its 200-day moving average is $93.08.

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

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.4%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Mizuho dropped their price target on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Morgan Stanley reissued an "overweight" rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Finally, Melius assumed coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $120.86.

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.