ConocoPhillips $COP Shares Bought by First Hawaiian Bank

Key Points

• First Hawaiian Bank increased its stake in ConocoPhillips by 23.1% during the first quarter, owning 33,736 shares valued at approximately $3.54 million by the quarter's end.
• ConocoPhillips reported $1.42 earnings per share for the last quarter, surpassing analysts' expectations and marking a 4.3% annual revenue increase with total revenue of $14.94 billion.
• The company declared a quarterly dividend of $0.78 per share, equating to an annualized yield of 3.3%, with a dividend payout ratio of 41.88%.

First Hawaiian Bank boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 23.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,736 shares of the energy producer's stock after acquiring an additional 6,335 shares during the period. First Hawaiian Bank's holdings in ConocoPhillips were worth $3,543,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. lifted its stake in ConocoPhillips by 379.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer's stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP lifted its stake in ConocoPhillips by 1.4% during the first quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer's stock worth $3,319,746,000 after purchasing an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in ConocoPhillips by 30.2% during the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer's stock worth $942,297,000 after purchasing an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in ConocoPhillips by 15.1% during the first quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer's stock worth $861,490,000 after purchasing an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new position in ConocoPhillips during the first quarter worth $658,981,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 1.6%

NYSE:COP traded down $1.53 during trading hours on Friday, hitting $92.60. The company's stock had a trading volume of 5,169,385 shares, compared to its average volume of 5,775,860. The stock has a market capitalization of $115.65 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 2.43 and a beta of 0.69. The stock has a fifty day moving average of $94.75 and a 200-day moving average of $92.92. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08.

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

ConocoPhillips Announces Dividend

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

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares of the company's stock, valued at $1,369,024.48. This 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 this link. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on COP. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Finally, Piper Sandler upped 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.86.

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.