Vestmark Advisory Solutions Inc. Acquires 4,512 Shares of ConocoPhillips $COP

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in ConocoPhillips by 87.1%, now owning 9,694 shares valued at approximately $1,018,000.
• Several institutional investors have significantly increased their holdings in ConocoPhillips, with Charles Schwab Investment Management Inc. growing its position by 379.7% in the 1st quarter.
• ConocoPhillips declared a quarterly dividend of $0.78 per share, representing an annualized yield of 3.3%, with the ex-dividend date set for August 18th.

Vestmark Advisory Solutions Inc. grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 87.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,694 shares of the energy producer's stock after buying an additional 4,512 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in ConocoPhillips were worth $1,018,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of COP. 10Elms LLP purchased a new stake in shares of ConocoPhillips in the 4th quarter valued at $28,000. Financial Network Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at $31,000. Garde Capital Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at $35,000. Finally, IMA Advisory Services Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.4%

NYSE COP traded down $0.3410 during trading on Tuesday, hitting $93.6590. The company had a trading volume of 5,404,608 shares, compared to its average volume of 6,820,897. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a one year low of $79.88 and a one year high of $116.08. The company has a market cap of $116.97 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 2.45 and a beta of 0.67. The company's fifty day moving average is $93.78 and its 200-day moving average is $93.32.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. During the same period in the prior year, the business earned $1.98 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.78 dividend. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio is 41.88%.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. Bank of America cut their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Piper Sandler upped their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the company an "overweight" rating in a report on Monday. Finally, UBS Group upped their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a "buy" rating in a report on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and an average target price of $120.89.

Insider Buying and Selling

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm's stock in a transaction on Monday, June 16th. The stock was acquired 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 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.24% of the company's stock.

ConocoPhillips 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.