LGT Fund Management Co Ltd. Purchases 21,434 Shares of ConocoPhillips $COP

Key Points

• LGT Fund Management increased its ConocoPhillips stake by 36.6% in the first quarter, buying 21,434 additional shares and bringing its total holding to 79,991 shares worth about $10.56 million.
• ConocoPhillips shares rose 1.0% to $109.06, and the company now has a market cap of $132.86 billion with a dividend yield of 3.1% after paying a quarterly dividend of $0.84 per share.
• The company beat quarterly earnings expectations, reporting $1.89 EPS versus the $1.72 estimate, while Wall Street remains generally positive with a consensus rating of Moderate Buy and an average target price of $134.04.

LGT Fund Management Co Ltd. lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 36.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,991 shares of the energy producer's stock after acquiring an additional 21,434 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in ConocoPhillips were worth $10,559,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of ConocoPhillips during the fourth quarter worth $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips in the third quarter valued at about $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter worth about $28,000. Strive Asset Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at about $28,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips in the second quarter valued at approximately $33,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Up 1.0%

Shares of COP stock traded up $1.04 during trading on Friday, reaching $109.06. The company's stock had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The business has a fifty day moving average price of $114.15 and a 200-day moving average price of $112.66. The company has a market cap of $132.86 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.31 and a beta of 0.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter last year, the company earned $2.09 EPS. ConocoPhillips's revenue for the quarter was down 6.1% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 9.28 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips's dividend payout ratio is currently 57.05%.

Wall Street Analyst Weigh In

COP has been the subject of several recent research reports. UBS Group dropped their price objective on ConocoPhillips from $155.00 to $143.00 and set a "buy" rating for the company in a report on Wednesday. Piper Sandler upped their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Scotiabank raised their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Mizuho cut their target price on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group increased their price target on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a "buy" rating in a research report on Monday, May 18th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $134.04.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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