ConocoPhillips (NYSE:COP) Holdings Decreased by Syntax Research Inc.

Key Points

• Syntax Research Inc. reduced its stake in ConocoPhillips by 46.4%, selling 9,740 shares in the first quarter, leaving it with 11,264 shares worth approximately $1,183,000.
• Institutional investors collectively own 82.36% of ConocoPhillips stock, with notable increases from firms such as Pacer Advisors Inc. and Assetmark Inc..
• ConocoPhillips recently reported $2.09 earnings per share for the quarter, exceeding analysts' expectations and reflecting a return on equity of 16.54%.

Syntax Research Inc. lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 46.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,264 shares of the energy producer's stock after selling 9,740 shares during the quarter. Syntax Research Inc.'s holdings in ConocoPhillips were worth $1,183,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer's stock valued at $1,897,000 after purchasing an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer's stock valued at $5,125,000 after purchasing an additional 30,000 shares during the last quarter. ORG Wealth Partners LLC boosted its holdings in ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer's stock valued at $698,000 after purchasing an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer's stock valued at $9,580,000 after purchasing an additional 54,900 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of the stock in a transaction dated Monday, June 16th. The shares were acquired at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president owned 14,527 shares of the company's stock, valued at $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Price Performance

Shares of COP stock traded down $0.12 during mid-day trading on Tuesday, hitting $96.90. 1,979,762 shares of the stock traded hands, compared to its average volume of 8,191,746. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The firm has a market cap of $122.50 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company's 50-day simple moving average is $91.28 and its 200-day simple moving average is $94.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the previous year, the firm posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.22%. ConocoPhillips's dividend payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler reissued an "overweight" rating and issued a $123.00 price target (up previously from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Morgan Stanley reissued an "overweight" rating and issued a $119.00 price target on shares of ConocoPhillips in a report on Tuesday, July 15th. Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a report on Friday, July 11th. Barclays reduced their target price on ConocoPhillips from $135.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Citigroup reduced their target price on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average target price of $121.33.

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.