Zions Bancorporation National Association UT Invests $316,000 in ConocoPhillips (NYSE:COP)

Key Points

• Zions Bancorporation National Association has invested approximately $316,000 in ConocoPhillips by purchasing 3,010 shares in the first quarter.
• Several large investors have significantly increased their holdings in ConocoPhillips, with Charles Schwab Investment Management Inc. raising its stake by 379.7%.
• ConocoPhillips is set to distribute a quarterly dividend of $0.78 on September 2nd, representing a 3.3% annualized yield.

Zions Bancorporation National Association UT acquired a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,010 shares of the energy producer's stock, valued at approximately $316,000.

Several other hedge funds have also bought and sold shares of COP. Scotia Capital Inc. boosted its stake in ConocoPhillips by 70.1% during the fourth quarter. Scotia Capital Inc. now owns 8,233 shares of the energy producer's stock worth $817,000 after acquiring an additional 3,393 shares in the last quarter. Sterling Capital Management LLC boosted its stake in ConocoPhillips by 41.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,537 shares of the energy producer's stock worth $747,000 after acquiring an additional 2,224 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in ConocoPhillips by 2.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 187,349 shares of the energy producer's stock worth $18,631,000 after acquiring an additional 4,066 shares in the last quarter. Townsquare Capital LLC boosted its stake in ConocoPhillips by 47.8% during the fourth quarter. Townsquare Capital LLC now owns 104,166 shares of the energy producer's stock worth $10,330,000 after acquiring an additional 33,667 shares in the last quarter. Finally, Sagespring Wealth Partners LLC bought a new stake in ConocoPhillips during the fourth quarter worth about $1,017,000. Institutional investors own 82.36% of the company's stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Morgan Stanley reissued an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday. Citigroup decreased their target price on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Piper Sandler reaffirmed an "overweight" rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. UBS Group lifted their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.84.

ConocoPhillips Stock Performance

Shares of COP traded up $1.01 during mid-day trading on Tuesday, hitting $94.54. 7,524,697 shares of the company traded hands, compared to its average volume of 6,269,311. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50-day moving average price of $93.04 and a two-hundred day moving average price of $93.54. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The stock has a market cap of $118.07 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 2.43 and a beta of 0.67.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $14.39 billion. During the same period in the prior year, the company earned $1.98 earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

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.