GAM Holding AG Sells 7,262 Shares of ConocoPhillips (NYSE:COP)

GAM Holding AG decreased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 107,222 shares of the energy producer's stock after selling 7,262 shares during the quarter. GAM Holding AG's holdings in ConocoPhillips were worth $11,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $27,000. 10Elms LLP purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $32,000. Finally, Marshall Investment Management LLC bought a new position in ConocoPhillips in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Up 1.0%

COP stock opened at $94.76 on Friday. The company has a market capitalization of $119.79 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company's 50 day moving average price is $89.65 and its two-hundred day moving average price is $95.52.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the company earned $2.05 EPS. As a group, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. ConocoPhillips's dividend payout ratio is currently 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Barclays decreased their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Scotiabank decreased their target price on ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Morgan Stanley raised their price target on ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Royal Bank Of Canada cut their price objective on ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Finally, Piper Sandler decreased their price objective on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $121.30.

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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