Mn Services Vermogensbeheer B.V. Sells 28,700 Shares of ConocoPhillips (NYSE:COP)

Mn Services Vermogensbeheer B.V. reduced its position in ConocoPhillips (NYSE:COP) by 10.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,505 shares of the energy producer’s stock after selling 28,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in ConocoPhillips were worth $25,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Fairfield Bush & CO. purchased a new position in shares of ConocoPhillips in the 1st quarter worth about $31,000. Cetera Investment Advisers boosted its holdings in shares of ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after acquiring an additional 9,313 shares during the period. Zions Bancorporation N.A. boosted its holdings in ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after acquiring an additional 672 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after acquiring an additional 2,465 shares during the period. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the subject of several analyst reports. Jefferies Financial Group increased their target price on ConocoPhillips from $141.00 to $143.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Raymond James dropped their price objective on ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a report on Monday, July 24th. StockNews.com initiated coverage on ConocoPhillips in a report on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of ConocoPhillips in a report on Monday, August 14th. Finally, Truist Financial increased their price objective on ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $136.16.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 30,800 shares of ConocoPhillips stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total value of $3,813,964.00. Following the completion of the sale, the senior vice president now owns 5,937 shares of the company’s stock, valued at approximately $735,178.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ConocoPhillips news, SVP Andrew D. Lundquist sold 30,800 shares of ConocoPhillips stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total value of $3,813,964.00. Following the completion of the sale, the senior vice president now owns 5,937 shares of the company’s stock, valued at approximately $735,178.71. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sharmila Mulligan sold 1,849 shares of ConocoPhillips stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.19, for a total value of $231,476.31. The disclosure for this sale can be found here. Insiders sold a total of 602,049 shares of company stock valued at $73,591,956 in the last 90 days. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Stock Up 1.3 %

COP stock opened at $115.61 on Friday. ConocoPhillips has a twelve month low of $91.53 and a twelve month high of $135.68. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market cap of $137.28 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. The business has a 50 day moving average of $120.48 and a 200 day moving average of $111.94.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 14th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, November 13th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio (DPR) is 22.30%.

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 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.