Hamlin Capital Management LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Key Points

• Hamlin Capital Management LLC increased its stake in ConocoPhillips (NYSE:COP) by 10.2% in the first quarter, holding 1,726,182 shares valued at approximately $181 million.
• Several institutional investors, including **Charles Schwab Investment Management Inc.**, significantly raised their stakes in ConocoPhillips, with Schwab increasing its position by a remarkable 379.7% during the same period.
• ConocoPhillips reported a quarterly earnings per share of **$1.42**, surpassing analyst expectations, and declared a quarterly dividend of **$0.78 per share**, with a yield of 3.3%.

Hamlin Capital Management LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,726,182 shares of the energy producer's stock after purchasing an additional 159,411 shares during the period. ConocoPhillips comprises 4.3% of Hamlin Capital Management LLC's investment portfolio, making the stock its 10th largest holding. Hamlin Capital Management LLC owned approximately 0.14% of ConocoPhillips worth $181,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $4,210,751,000 after acquiring an additional 31,736,423 shares during the last quarter. Nuveen LLC acquired a new stake in ConocoPhillips in the first quarter valued at $658,981,000. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 5,549,078 shares during the last quarter. Northern Trust Corp lifted its holdings in ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer's stock worth $1,364,364,000 after buying an additional 2,971,661 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of ConocoPhillips by 10,440.1% during the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer's stock worth $311,299,000 after acquiring an additional 2,936,066 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Price Performance

COP opened at $95.82 on Thursday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. 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 company has a market capitalization of $119.67 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 2.46 and a beta of 0.67. The firm's fifty day moving average price is $93.24 and its two-hundred day moving average price is $93.55.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. The business had revenue of $14.94 billion for 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 firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Analysts Set New Price Targets

Several research analysts have issued reports on COP shares. Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a report on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday. Piper Sandler reiterated an "overweight" rating and set a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Mizuho lowered their price objective on ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Susquehanna cut their target price on ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $120.84.

Insider Transactions at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company's stock.

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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