Point72 Europe London LLP Has $22.04 Million Holdings in ConocoPhillips $COP

Key Points

• Point72 Europe London LLP significantly reduced its holdings in ConocoPhillips by 38.3% during the first quarter, now owning 209,874 shares valued at approximately $22 million.
• ConocoPhillips reported a quarterly EPS of $1.42, exceeding estimates, with revenues totaling $14.94 billion, marking a year-over-year increase of 4.3%.
• The company announced a quarterly dividend of $0.78 per share to be paid on September 2nd, representing an annualized yield of 3.1%.

Point72 Europe London LLP lowered its position in ConocoPhillips (NYSE:COP - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 209,874 shares of the energy producer's stock after selling 130,467 shares during the quarter. ConocoPhillips comprises approximately 1.5% of Point72 Europe London LLP's portfolio, making the stock its 14th largest holding. Point72 Europe London LLP's holdings in ConocoPhillips were worth $22,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. 10Elms LLP purchased a new stake in ConocoPhillips during the fourth quarter valued at about $28,000. Financial Network Wealth Advisors LLC increased its stake in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips during the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in ConocoPhillips in the first quarter worth approximately $37,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COP. Royal Bank Of Canada decreased their price objective on shares of 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 cut shares of ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Piper Sandler upped their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research note on Wednesday. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.95.

ConocoPhillips Price Performance

Shares of NYSE:COP traded down $4.28 on Wednesday, reaching $94.71. 9,778,599 shares of the company were exchanged, compared to its average volume of 6,417,268. The firm has a market cap of $118.28 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 2.60 and a beta of 0.69. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $94.49 and a 200-day moving average of $93.21. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping 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 business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the firm posted $1.98 EPS. The company's revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips's payout ratio is currently 41.88%.

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.