Sei Investments Co. Purchases 202,932 Shares of ConocoPhillips $COP

Key Points

• Sei Investments Co. increased its ConocoPhillips stake by 22.5% in the first quarter, buying an additional 202,932 shares and bringing its total holdings to 1,104,021 shares worth about $145.7 million.
• ConocoPhillips reported better-than-expected quarterly results, with EPS of $1.89 versus estimates of $1.72 and revenue of $15.76 billion versus $15.62 billion expected, even though revenue fell 6.1% year over year.
• Wall Street remains broadly positive on COP, with a Moderate Buy consensus rating and an average price target of $134.16; the stock was also trading up 1.3% at $120.30 when the article was written.

Sei Investments Co. boosted its position in ConocoPhillips (NYSE:COP - Free Report) by 22.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,104,021 shares of the energy producer's stock after acquiring an additional 202,932 shares during the quarter. Sei Investments Co. owned 0.09% of ConocoPhillips worth $145,731,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of ConocoPhillips by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the last quarter. Capital International Investors boosted its holdings in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Franklin Resources Inc. raised its stake in ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock worth $1,407,770,000 after buying an additional 648,432 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock valued at $1,389,862,000 after purchasing an additional 193,401 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of a number of research reports. Citigroup boosted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Raymond James Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a report on Monday, June 1st. Morgan Stanley decreased their price objective on ConocoPhillips from $153.00 to $146.00 and set an "overweight" rating for the company in a report on Friday, June 26th. Truist Financial reduced their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a "hold" rating for the company in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein increased their price target on ConocoPhillips from $98.00 to $121.00 and gave the company an "outperform" rating in a research report on Monday, April 13th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.16.

ConocoPhillips Trading Up 1.3%

Shares of COP opened at $120.30 on Friday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market capitalization of $146.56 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.43 and a beta of 0.12. The firm's 50 day simple moving average is $113.54 and its 200 day simple moving average is $114.18.

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 analysts' consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips's revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS. Sell-side analysts forecast that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.8%. ConocoPhillips's dividend payout ratio (DPR) is 57.05%.

About ConocoPhillips

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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