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ConocoPhillips (NYSE:COP) Shares Sold by Swiss National Bank

ConocoPhillips logo with Energy background

Key Points

  • The Swiss National Bank reduced its holdings in ConocoPhillips by 1.0%, selling 35,000 shares and now owns approximately 3.65 million shares worth about $383 million.
  • ConocoPhillips recently announced a quarterly dividend of $0.78 per share, which results in an annualized dividend of $3.12 and a yield of 3.4%.
  • Analysts have expressed confidence in ConocoPhillips, with multiple firms giving the stock a "buy" rating and setting an average price target of $120.63.
  • Looking to Export and Analyze ConocoPhillips Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Swiss National Bank lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,648,370 shares of the energy producer's stock after selling 35,000 shares during the period. Swiss National Bank owned about 0.29% of ConocoPhillips worth $383,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Second Line Capital LLC increased its position in ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock worth $495,000 after buying an additional 108 shares during the period. Meiji Yasuda Life Insurance Co increased its position in ConocoPhillips by 1.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer's stock worth $703,000 after buying an additional 110 shares during the period. LRI Investments LLC increased its position in ConocoPhillips by 3.6% during the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after buying an additional 110 shares during the period. Deseret Mutual Benefit Administrators increased its position in ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after buying an additional 118 shares during the period. Finally, Northeast Financial Consultants Inc increased its position in ConocoPhillips by 2.9% during the fourth quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer's stock worth $432,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson purchased 5,300 shares of the company's stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COP shares. UBS Group lifted their price target on ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Morgan Stanley reiterated an "overweight" rating and issued a $119.00 target price on shares of ConocoPhillips in a research note on Tuesday, July 15th. Barclays lowered their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Raymond James Financial lifted their target price on ConocoPhillips from $109.00 to $117.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $120.63.

Read Our Latest Report on ConocoPhillips

ConocoPhillips Stock Up 1.4%

NYSE COP traded up $1.31 on Friday, hitting $93.91. 8,764,610 shares of the stock traded hands, compared to its average volume of 6,026,880. The stock has a 50-day moving average of $92.77 and a 200 day moving average of $93.66. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market capitalization of $118.72 billion, a P/E ratio of 12.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.67. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips's dividend payout ratio is presently 39.64%.

ConocoPhillips Profile

(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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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