First National Advisers LLC Increases Stock Position in ConocoPhillips (NYSE:COP)

Key Points

• First National Advisers LLC increased its stake in ConocoPhillips by 12.4% during the first quarter, acquiring an additional 2,737 shares worth approximately $2.6 million.
• Analysts have shown strong support for ConocoPhillips, with Piper Sandler adjusting its price target to $123 while maintaining an "overweight" rating, and the stock holding an average rating of "Moderate Buy."
• ConocoPhillips announced a quarterly dividend of $0.78 per share, resulting in an annualized yield of 3.29%, with a payout ratio of 39.64%.

First National Advisers LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 12.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,754 shares of the energy producer's stock after buying an additional 2,737 shares during the quarter. First National Advisers LLC's holdings in ConocoPhillips were worth $2,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the period. Capital International Investors increased its holdings in shares of ConocoPhillips by 4.9% during the 4th quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Invesco Ltd. increased its holdings in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock valued at $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 14,420,058 shares of the energy producer's stock valued at $1,430,034,000 after purchasing an additional 862,707 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 1.0%

NYSE:COP traded down $0.93 during mid-day trading on Thursday, hitting $95.75. The stock had a trading volume of 2,615,522 shares, compared to its average volume of 8,164,366. The stock has a 50-day simple moving average of $91.64 and a two-hundred day simple moving average of $94.29. The company has a market capitalization of $121.04 billion, a PE ratio of 12.17, a PEG ratio of 2.55 and a beta of 0.61. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the company earned $2.05 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.26%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

COP has been the subject of several recent analyst reports. Scotiabank boosted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. UBS Group upped their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Barclays dropped their target price on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $119.00 target price on shares of ConocoPhillips in a report on Tuesday, July 15th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $121.33.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.24% of the stock is owned by corporate insiders.

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.