ConocoPhillips (NYSE:COP) Stock Holdings Decreased by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in ConocoPhillips by 27.5% in Q1, now owning 74,076 shares valued at approximately $7.78 million.
• Analysts maintain a consensus rating of "Moderate Buy" for ConocoPhillips, with a target price averaging $120.84, despite some firms cutting their price targets.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, reflecting an annualized yield of 3.3%, with payments commencing on September 2nd.

Gulf International Bank UK Ltd lessened its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 27.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,076 shares of the energy producer's stock after selling 28,156 shares during the period. Gulf International Bank UK Ltd's holdings in ConocoPhillips were worth $7,779,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. lifted its holdings in ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after buying an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new position in ConocoPhillips during the 1st quarter worth approximately $658,981,000. Price T Rowe Associates Inc. MD lifted its holdings in ConocoPhillips by 13.8% during the 4th 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 buying an additional 5,549,078 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ConocoPhillips by 27.6% in the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock valued at $1,364,364,000 after buying an additional 2,971,661 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of ConocoPhillips by 10,440.1% in the 1st quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock valued at $311,299,000 after buying an additional 2,936,066 shares during the period. Institutional investors own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a report on Sunday. Roth Capital reaffirmed a "buy" rating and issued a $108.00 price target on shares of ConocoPhillips in a report on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Barclays decreased their price target 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. Finally, Bank of America decreased their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $120.84.

ConocoPhillips Trading Up 1.1%

Shares of NYSE:COP opened at $94.54 on Wednesday. The company has a market cap of $118.07 billion, a PE ratio of 12.69, a P/E/G ratio of 2.43 and a beta of 0.67. The company's 50-day moving average price is $93.04 and its 200 day moving average price is $93.54. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. During the same period in the previous year, the firm earned $1.98 EPS. ConocoPhillips's revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given 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 is Monday, August 18th. ConocoPhillips's payout ratio is 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.

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