ConocoPhillips $COP Stock Holdings Boosted by Ieq Capital LLC

Key Points

• Ieq Capital LLC increased its stake in ConocoPhillips by 93.9%, holding 170,643 shares valued at approximately $17.9 million after purchasing an additional 82,616 shares in the first quarter.
• Insider trading activity saw EVP Kirk L. Johnson acquire 5,300 shares for a total value of $499,472, raising his total ownership to 14,527 shares.
• ConocoPhillips reported quarterly earnings of $1.42 EPS, exceeding expectations, with revenue of $14.94 billion, a 4.3% year-over-year increase.

Ieq Capital LLC increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 93.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,643 shares of the energy producer's stock after acquiring an additional 82,616 shares during the quarter. Ieq Capital LLC's holdings in ConocoPhillips were worth $17,921,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised 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 valued at $4,210,751,000 after buying an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP raised 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 valued at $3,319,746,000 after buying an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $942,297,000 after buying an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. raised 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 valued at $861,490,000 after buying an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in ConocoPhillips during the first quarter valued at approximately $658,981,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. Morgan Stanley restated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Roth Capital restated a "buy" rating and set a $108.00 price objective on shares of ConocoPhillips in a research note on Thursday, August 7th. Melius Research initiated coverage on ConocoPhillips in a research note on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Piper Sandler increased their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the stock a "sector perform" rating in a research report on Friday, July 11th. Sixteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $120.95.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $0.61 on Friday, reaching $99.06. 4,594,203 shares of the company were exchanged, compared to its average volume of 6,974,235. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The company's 50-day moving average is $94.16 and its two-hundred day moving average is $93.18. The firm has a market cap of $123.72 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 2.59 and a beta of 0.67. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 18th. ConocoPhillips's dividend payout ratio is 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.