TBH Global Asset Management LLC boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 50.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,596 shares of the energy producer's stock after acquiring an additional 8,638 shares during the quarter. TBH Global Asset Management LLC's holdings in ConocoPhillips were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer's stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Capital International Investors lifted its holdings in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock valued at $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC grew its position in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at ConocoPhillips
In other news, EVP Kirk L. Johnson bought 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.24% of the company's stock.
ConocoPhillips Price Performance
Shares of NYSE:COP traded down $0.35 during trading hours on Monday, hitting $89.82. 6,485,910 shares of the company's stock traded hands, compared to its average volume of 7,538,105. The company's fifty day simple moving average is $89.96 and its two-hundred day simple moving average is $94.98. The company has a market cap of $113.55 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. 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 has a 52 week low of $79.88 and a 52 week high of $118.40.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to analysts' expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period last year, the firm posted $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.
ConocoPhillips Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.47%. ConocoPhillips's dividend payout ratio (DPR) is 39.64%.
Analyst Ratings Changes
A number of equities research analysts have commented on COP shares. Barclays lowered 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. Scotiabank decreased their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research report on Friday, April 11th. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Piper Sandler cut their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $117.00 price objective (up from $113.00) on shares of ConocoPhillips in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $121.50.
Check Out Our Latest Analysis on COP
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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