ConocoPhillips $COP Shares Purchased by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its stake in ConocoPhillips by 21.5% in the first quarter, now owning 46,051 shares valued at approximately $4.84 million.
• Analysts have set price targets for ConocoPhillips ranging from $113.00 to $124.00, with the stock currently holding an average rating of "Moderate Buy".
• ConocoPhillips recently announced a quarterly dividend of $0.78 per share, representing an annualized yield of 3.1%.

Vident Advisory LLC boosted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 21.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,051 shares of the energy producer's stock after purchasing an additional 8,152 shares during the period. Vident Advisory LLC's holdings in ConocoPhillips were worth $4,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Second Line Capital LLC raised its holdings in ConocoPhillips by 2.2% during the fourth quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer's stock valued at $495,000 after acquiring an additional 108 shares during the period. Meiji Yasuda Life Insurance Co raised its holdings 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 valued at $703,000 after acquiring an additional 110 shares during the period. LRI Investments LLC increased its holdings in shares of ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer's stock worth $316,000 after purchasing an additional 110 shares during the last quarter. KLCM Advisors Inc. increased its holdings in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer's stock worth $473,000 after purchasing an additional 115 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in shares of ConocoPhillips by 3.9% in the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer's stock worth $334,000 after purchasing an additional 118 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Piper Sandler lifted their price target on ConocoPhillips from $123.00 to $124.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Melius Research began coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a "hold" rating and a $117.00 price target for the company. Wall Street Zen lowered ConocoPhillips from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Scotiabank boosted their target price on ConocoPhillips from $95.00 to $100.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Finally, Roth Capital restated a "buy" rating on shares of ConocoPhillips in a research report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $120.95.

ConocoPhillips Trading Up 1.0%

Shares of NYSE COP traded up $0.92 during trading hours on Thursday, reaching $95.57. The stock had a trading volume of 3,375,482 shares, compared to its average volume of 7,982,979. The firm has a market cap of $119.36 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.60 and a beta of 0.69. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The business's fifty day moving average price is $94.61 and its two-hundred day moving average price is $93.23.

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 analysts' consensus estimates of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.98 earnings per share. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips's dividend payout ratio is presently 41.88%.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were acquired at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

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.