Findlay Park Partners LLP Buys 24,600 Shares of ConocoPhillips $COP

Key Points

• Findlay Park Partners LLP has increased its stake in ConocoPhillips by 1.4%, now owning 1,835,071 shares, which represent 2.0% of their overall portfolio.
• ConocoPhillips reported a net revenue of $14.94 billion for its latest quarter, surpassing analyst expectations and marking a 4.3% increase compared to the same period last year.
• The company declared a quarterly dividend of $0.78 per share, scheduled for payment on September 2nd, representing an annual yield of 3.2%.

Findlay Park Partners LLP lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,835,071 shares of the energy producer's stock after acquiring an additional 24,600 shares during the quarter. ConocoPhillips makes up 2.0% of Findlay Park Partners LLP's holdings, making the stock its 20th biggest holding. Findlay Park Partners LLP owned about 0.15% of ConocoPhillips worth $192,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in COP. 10Elms LLP bought a new stake in shares of ConocoPhillips during the fourth quarter valued at approximately $28,000. Financial Network Wealth Advisors LLC increased its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $31,000. Garde Capital Inc. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $35,000. Finally, IMA Advisory Services Inc. bought a new stake in shares of ConocoPhillips during the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction on Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COP shares. Raymond James Financial boosted their price objective on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Wall Street Zen cut ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Citigroup cut their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Melius Research assumed coverage on ConocoPhillips in a research report on Wednesday, August 20th. They set a "hold" rating and a $117.00 target price on the stock. Finally, Piper Sandler boosted their price objective on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.95.

ConocoPhillips Trading Up 0.6%

COP stock traded up $0.61 during trading on Friday, hitting $99.06. 4,594,203 shares of the company traded hands, compared to its average volume of 6,974,235. The company has a 50-day moving average of $94.16 and a 200-day moving average of $93.18. The firm has a market capitalization of $123.72 billion, a PE ratio of 13.30, a P/E/G ratio of 2.59 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

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

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.

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.