MassMutual Private Wealth & Trust FSB Purchases 2,918 Shares of ConocoPhillips $COP

Key Points

• MassMutual Private Wealth & Trust FSB has increased its stake in ConocoPhillips by 4.8%, holding a total of 63,098 shares valued at $5.66 million.
• ConocoPhillips reported a quarterly EPS of $1.42, exceeding estimates, with revenue of $14.94 billion, reflecting a 4.3% year-over-year increase.
• The company recently declared a quarterly dividend of $0.78, resulting in an annualized dividend of $3.12 and a yield of 3.3%.

MassMutual Private Wealth & Trust FSB lifted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 4.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,098 shares of the energy producer's stock after acquiring an additional 2,918 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in ConocoPhillips were worth $5,662,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in COP. Twinbeech Capital LP bought a new stake in ConocoPhillips in the 4th quarter valued at about $4,493,000. Westwood Holdings Group Inc. boosted its stake in shares of ConocoPhillips by 37.0% in the 4th quarter. Westwood Holdings Group Inc. now owns 163,301 shares of the energy producer's stock worth $16,195,000 after buying an additional 44,119 shares during the last quarter. Visionary Wealth Advisors boosted its stake in shares of ConocoPhillips by 29.9% in the 4th quarter. Visionary Wealth Advisors now owns 6,049 shares of the energy producer's stock worth $600,000 after buying an additional 1,394 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of ConocoPhillips by 33.1% in the 4th quarter. Vident Advisory LLC now owns 37,899 shares of the energy producer's stock worth $3,759,000 after buying an additional 9,418 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in ConocoPhillips in the fourth quarter valued at approximately $33,500,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on COP shares. Piper Sandler upped their price objective on ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Wells Fargo & Company reissued an "overweight" rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a report on Thursday, June 26th. UBS Group upped their price target on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Roth Capital reaffirmed a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Finally, Melius Research started coverage on ConocoPhillips in a research note on Wednesday, August 20th. They issued a "hold" rating and a $117.00 target price on the stock. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $120.62.

ConocoPhillips Stock Down 1.7%

COP traded down $1.59 on Friday, hitting $91.89. The company had a trading volume of 15,283,514 shares, compared to its average volume of 5,903,118. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The stock has a fifty day simple moving average of $94.59 and a 200-day simple moving average of $92.94. The firm has a market capitalization of $114.77 billion, a P/E ratio of 12.33, a P/E/G ratio of 2.42 and a beta of 0.69.

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

ConocoPhillips Announces Dividend

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