Foundation Resource Management Inc. lifted its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 309,724 shares of the energy producer’s stock after acquiring an additional 1,734 shares during the period. ConocoPhillips makes up about 5.3% of Foundation Resource Management Inc.’s portfolio, making the stock its 5th largest holding. Foundation Resource Management Inc.’s holdings in ConocoPhillips were worth $32,091,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Morgan Stanley lifted its stake in shares of ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after acquiring an additional 3,497,750 shares during the last quarter. Cowa LLC grew its holdings in shares of ConocoPhillips by 6,475.2% during the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the last quarter. Two Sigma Investments LP increased its position in ConocoPhillips by 794.6% in the 1st quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock valued at $229,532,000 after acquiring an additional 2,054,974 shares during the period. Finally, Findlay Park Partners LLP acquired a new position in ConocoPhillips in the 4th quarter valued at approximately $207,728,000. Institutional investors and hedge funds own 80.36% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on COP shares. Morgan Stanley restated an “overweight” rating and issued a $124.00 price objective on shares of ConocoPhillips in a report on Wednesday, July 19th. Truist Financial increased their price target on ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a research note on Monday. Jefferies Financial Group cut their price objective on ConocoPhillips from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. UBS Group increased their target price on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Piper Sandler dropped their price target on shares of ConocoPhillips from $149.00 to $125.00 in a research report on Tuesday, June 13th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $135.11.
ConocoPhillips Stock Down 0.9 %
Shares of COP traded down $1.06 during trading hours on Tuesday, reaching $123.42. 1,444,060 shares of the stock traded hands, compared to its average volume of 5,813,377. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $138.49. The company has a market cap of $147.79 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.78 and a beta of 1.30. The stock has a fifty day simple moving average of $116.22 and a 200 day simple moving average of $107.25. The company has a current ratio of 1.41, a quick ratio of 1.28 and a debt-to-equity ratio of 0.33.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. The firm had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same period in the prior year, the business earned $3.91 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.74 EPS for the current year.
ConocoPhillips Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Wednesday, August 16th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Wednesday, September 27th. ConocoPhillips’s dividend payout ratio is currently 19.65%.
Insider Transactions at ConocoPhillips
In related news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the sale, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by company insiders.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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