Czech National Bank Boosts Stake in ConocoPhillips $COP

Key Points

• The Czech National Bank increased its stake in ConocoPhillips by 5.3% during the second quarter, holding 308,577 shares valued at approximately $27.69 million.
• ConocoPhillips reported earnings of $1.42 EPS for the most recent quarter, exceeding analyst expectations, with revenue of $14.94 billion.
• The company also declared a quarterly dividend of $0.78 per share, resulting in an annualized yield of 3.4%.

Czech National Bank raised its position in ConocoPhillips (NYSE:COP - Free Report) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,577 shares of the energy producer's stock after buying an additional 15,530 shares during the period. Czech National Bank's holdings in ConocoPhillips were worth $27,692,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock valued at $3,319,746,000 after purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock valued at $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock valued at $861,490,000 after purchasing an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of ConocoPhillips in the 1st quarter valued at about $658,981,000. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.1%

ConocoPhillips stock opened at $92.32 on Tuesday. The firm has a 50 day simple moving average of $94.74 and a 200-day simple moving average of $92.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $115.30 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69. 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 quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion during the quarter, compared to analysts' expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business's revenue was up 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.98 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.4%. ConocoPhillips's payout ratio is 41.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on COP. Morgan Stanley restated an "overweight" rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an "outperform" rating on the stock in a research note on Monday, September 8th. Piper Sandler increased their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. UBS Group increased their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Scotiabank increased their price objective on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research note on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.62.

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.

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