Fifth Third Bancorp Boosts Stock Position in ConocoPhillips (NYSE:COP)

Fifth Third Bancorp increased its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 502,145 shares of the energy producer's stock after buying an additional 7,607 shares during the period. Fifth Third Bancorp's holdings in ConocoPhillips were worth $63,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Orion Capital Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC raised its holdings in ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer's stock worth $27,000 after purchasing an additional 108 shares during the period. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the fourth quarter valued at about $27,000. Sachetta LLC bought a new stake in ConocoPhillips during the fourth quarter valued at about $27,000. Finally, Richardson Capital Management LLC bought a new stake in ConocoPhillips during the first quarter valued at about $31,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

ConocoPhillips stock traded down $2.08 during midday trading on Thursday, reaching $122.26. The company had a trading volume of 7,683,932 shares, compared to its average volume of 5,372,151. The company has a market capitalization of $143.83 billion, a P/E ratio of 13.49, a P/E/G ratio of 2.76 and a beta of 1.25. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The firm's fifty day simple moving average is $123.63 and its 200-day simple moving average is $117.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the company posted $2.71 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 9.11 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio (DPR) is currently 25.61%.

Insider Transactions at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher P. Delk sold 8,505 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

COP has been the subject of several analyst reports. Barclays initiated coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an "overweight" rating and a $158.00 price objective for the company. Scotiabank lifted their price target on shares of ConocoPhillips from $120.00 to $135.00 and gave the stock a "sector perform" rating in a report on Thursday, April 11th. Raymond James dropped their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Piper Sandler boosted their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an "overweight" rating in a report on Thursday, April 18th. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an "overweight" rating in a report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.65.

About ConocoPhillips

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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