Diamond Hill Capital Management Inc. Has $618.71 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Diamond Hill Capital Management Inc. decreased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,891,323 shares of the energy producer's stock after selling 497,257 shares during the quarter. ConocoPhillips accounts for approximately 2.8% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 4th biggest holding. Diamond Hill Capital Management Inc. owned 0.47% of ConocoPhillips worth $618,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. boosted its holdings in shares of ConocoPhillips by 0.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 87,031 shares of the energy producer's stock worth $9,140,000 after acquiring an additional 409 shares in the last quarter. Unison Advisors LLC increased its holdings in shares of ConocoPhillips by 0.7% in the first quarter. Unison Advisors LLC now owns 17,271 shares of the energy producer's stock valued at $1,814,000 after purchasing an additional 126 shares in the last quarter. Guardian Wealth Management Inc. raised its position in ConocoPhillips by 64.8% in the 1st quarter. Guardian Wealth Management Inc. now owns 30,269 shares of the energy producer's stock worth $3,179,000 after purchasing an additional 11,907 shares during the last quarter. AE Wealth Management LLC lifted its holdings in ConocoPhillips by 5.7% during the 1st quarter. AE Wealth Management LLC now owns 18,843 shares of the energy producer's stock worth $1,979,000 after buying an additional 1,016 shares in the last quarter. Finally, Blume Capital Management Inc. lifted its holdings in ConocoPhillips by 17.1% during the 1st quarter. Blume Capital Management Inc. now owns 1,541 shares of the energy producer's stock worth $162,000 after buying an additional 225 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.7%

Shares of ConocoPhillips stock traded up $0.66 during trading hours on Thursday, hitting $95.70. The company's stock had a trading volume of 5,047,223 shares, compared to its average volume of 6,151,416. The company has a market capitalization of $120.98 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The stock has a 50 day moving average of $91.09 and a 200 day moving average of $94.43. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same period last year, the company posted $2.05 EPS. Analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently weighed in on COP. Bank of America dropped their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Raymond James Financial lifted their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday. Citigroup dropped their price objective on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Finally, Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. 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 currently has a consensus rating of "Moderate Buy" and an average price target of $121.33.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the purchase, the executive vice president owned 14,527 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Company 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.