Nykredit A S Makes New Investment in ConocoPhillips $COP

Key Points

• Nykredit A S acquired 153,704 ConocoPhillips shares during the second quarter, valued at approximately $15.98 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported strong quarterly results, with earnings of $3.24 per share beating estimates of $2.90 and revenue rising 32.4% year over year to $19.52 billion.
• The stock recently traded at $131.78, while analysts maintained a “Moderate Buy” consensus with an average price target of $141.24; the company also pays a quarterly dividend of $0.84 per share.

Nykredit A S bought a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 153,704 shares of the energy producer's stock, valued at approximately $15,979,000.

Other institutional investors have also recently made changes to their positions in the company. Range Advisory LLC boosted its holdings in ConocoPhillips by 21.4% in the 2nd quarter. Range Advisory LLC now owns 2,839 shares of the energy producer's stock worth $295,000 after buying an additional 500 shares during the period. Planning Project LLC purchased a new position in ConocoPhillips in the 2nd quarter valued at approximately $1,430,000. Cornerstone Financial Management LLC raised its holdings in ConocoPhillips by 412.4% during the 2nd quarter. Cornerstone Financial Management LLC now owns 661 shares of the energy producer's stock valued at $69,000 after acquiring an additional 532 shares during the period. Amundi raised its holdings in ConocoPhillips by 1.4% during the 2nd quarter. Amundi now owns 5,166,069 shares of the energy producer's stock valued at $537,065,000 after acquiring an additional 70,251 shares during the period. Finally, Brown Financial Advisors lifted its position in shares of ConocoPhillips by 11.2% during the second quarter. Brown Financial Advisors now owns 12,950 shares of the energy producer's stock worth $1,346,000 after acquiring an additional 1,306 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 1.1%

Shares of COP stock opened at $131.78 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62. The company has a market capitalization of $158.31 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.39 and a beta of 0.13. The business's fifty day moving average is $126.05 and its 200 day moving average is $121.17.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same period in the previous year, the business earned $1.42 earnings per share. The firm's revenue was up 32.4% on a year-over-year basis. On average, equities research analysts anticipate that ConocoPhillips will post 10.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. ConocoPhillips's payout ratio is presently 44.44%.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COP shares. Morgan Stanley lifted their price target on ConocoPhillips from $147.00 to $151.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Truist Financial increased their price objective on ConocoPhillips from $115.00 to $130.00 and gave the stock a "hold" rating in a report on Monday, August 10th. Wells Fargo & Company raised their target price on ConocoPhillips from $183.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Freedom Capital upgraded ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Finally, Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $141.24.

About ConocoPhillips

ConocoPhillips NYSE: COP is an independent exploration and production company engaged primarily in finding, developing and producing crude oil, natural gas and natural gas liquids. The company sells its production to refiners, utilities, industrial customers and other energy market participants.

Its portfolio includes conventional and unconventional assets, with operations and development activities in the United States, including Alaska and the Lower 48, as well as Canada, Australia, Norway, Qatar and other international locations.

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