ConocoPhillips $COP Stock Position Boosted by Goelzer Investment Management Inc.

Key Points

• Goelzer Investment Management increased its ConocoPhillips position by 3,010.3% in the third quarter, ending with 78,846 shares valued at approximately $9.87 million. Institutional investors collectively own 82.36% of COP.
• Wall Street maintains a “Moderate Buy” consensus, with two Strong Buy, 17 Buy, six Hold and two Sell ratings; the average price target is $143.62.
• ConocoPhillips reported quarterly EPS of $3.24, exceeding estimates of $2.90, while revenue rose 32.4% year over year to $19.52 billion. The company also pays a quarterly dividend of $0.84 per share, yielding about 2.3% annually.

Goelzer Investment Management Inc. raised its position in ConocoPhillips (NYSE:COP - Free Report) by 3,010.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,846 shares of the energy producer's stock after purchasing an additional 76,311 shares during the quarter. Goelzer Investment Management Inc.'s holdings in ConocoPhillips were worth $9,868,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its position in ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock valued at $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. BlackRock Inc. grew its stake in shares of ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock valued at $9,760,436,000 after buying an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of ConocoPhillips by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer's stock worth $1,457,978,000 after buying an additional 74,261 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of ConocoPhillips by 10.8% during the first quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer's stock worth $1,344,017,000 after acquiring an additional 995,392 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on COP shares. The Goldman Sachs Group reduced their price target on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Morgan Stanley boosted their price target on ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a research note on Thursday. Truist Financial increased their target price on ConocoPhillips from $130.00 to $136.00 and gave the stock a "hold" rating in a report on Wednesday, October 7th. Jefferies Financial Group upped their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Finally, Zacks Research raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $143.62.

ConocoPhillips Stock Up 3.3%

Shares of COP opened at $146.43 on Friday. The company has a market capitalization of $175.92 billion, a PE ratio of 19.37, a PEG ratio of 1.41 and a beta of 0.24. The stock's 50-day moving average price is $132.11 and its two-hundred day moving average price is $122.44. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $146.59.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm posted $1.42 EPS. On average, analysts anticipate that ConocoPhillips will post 11.19 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips's payout ratio is presently 44.44%.

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 value of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips 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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