ConocoPhillips (NYSE:COP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in ConocoPhillips by 11.4%, now holding approximately 0.05% of the company, valued at $71.2 million.
• ConocoPhillips reported an EPS of $2.09 for the last quarter, exceeding estimates by $0.04, with revenues of $16.18 billion.
• The company declared a quarterly dividend of $0.78, representing a 3.4% yield, with a dividend payout ratio of 39.64%.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,992 shares of the energy producer's stock after selling 87,217 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.05% of ConocoPhillips worth $71,203,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake 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 purchasing an additional 5,549,078 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in ConocoPhillips by 83.0% during the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock worth $1,897,000 after purchasing an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its stake in ConocoPhillips by 159.6% during the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock worth $5,125,000 after purchasing an additional 30,000 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in ConocoPhillips by 853.3% during the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock worth $698,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in ConocoPhillips by 151.1% during the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock worth $9,580,000 after purchasing an additional 54,900 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

NYSE:COP opened at $92.75 on Friday. The firm has a market capitalization of $117.25 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67. The business's fifty day moving average price is $91.97 and its 200 day moving average price is $94.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS 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 analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the company posted $2.05 earnings per share. On average, sell-side analysts anticipate 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 Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company's stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on COP shares. UBS Group upped their price target on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Morgan Stanley restated an "overweight" rating and set a $119.00 price target on shares of ConocoPhillips in a research note on Tuesday, July 15th. Scotiabank upped their price objective on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Piper Sandler reaffirmed an "overweight" rating and set a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Finally, Raymond James Financial upped their price objective on ConocoPhillips from $109.00 to $117.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $121.33.

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.

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