Quantitative Investment Management LLC acquired a new stake in ConocoPhillips (NYSE:COP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,761 shares of the energy producer's stock, valued at approximately $5,015,000.
Several other hedge funds have also made changes to their positions in the business. 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 worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Nuveen LLC acquired a new position in ConocoPhillips in the 1st quarter valued at $658,981,000. Northern Trust Corp raised its position 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 last quarter. GAMMA Investing LLC lifted its stake in shares of ConocoPhillips by 10,440.1% in the 1st 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 period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of ConocoPhillips by 30.2% in 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 acquiring an additional 2,080,625 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.
ConocoPhillips Price Performance
Shares of COP stock traded up $0.62 during trading hours on Thursday, hitting $98.52. The company's stock had a trading volume of 4,240,812 shares, compared to its average volume of 8,038,302. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $93.98 and a 200-day moving average of $93.24. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The stock has a market cap of $123.05 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 2.54 and a beta of 0.67.
ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.ConocoPhillips's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.98 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.
ConocoPhillips Announces Dividend
The business also recently disclosed 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. This represents a $3.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio (DPR) is currently 41.88%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on COP shares. Melius Research initiated coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price objective for the company. UBS Group increased their price objective on ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Bank of America reduced their target price on ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Piper Sandler upped their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, Scotiabank increased their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Sixteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.95.
Read Our Latest Analysis on COP
Insider Transactions at ConocoPhillips
In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company's stock.
ConocoPhillips Profile
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Free Report)
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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