Blue Trust Inc. Boosts Stock Position in ConocoPhillips (NYSE:COP)

Blue Trust Inc. increased its stake in ConocoPhillips (NYSE:COPFree Report) by 38.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,866 shares of the energy producer’s stock after buying an additional 3,835 shares during the quarter. Blue Trust Inc.’s holdings in ConocoPhillips were worth $1,586,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sachetta LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Cooksen Wealth LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the period. Richardson Capital Management LLC acquired a new position in ConocoPhillips in the first quarter valued at approximately $31,000. Finally, Northwest Bank & Trust Co acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $32,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.0 %

Shares of ConocoPhillips stock traded down $0.05 during midday trading on Friday, hitting $111.18. The company’s stock had a trading volume of 3,819,194 shares, compared to its average volume of 5,710,891. The firm has a market capitalization of $129.11 billion, a P/E ratio of 12.59, a PEG ratio of 2.16 and a beta of 1.24. The stock has a 50-day simple moving average of $111.56 and a 200-day simple moving average of $116.98. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. As a group, sell-side analysts expect that ConocoPhillips will post 8.68 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Truist Financial cut their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada raised their target price on ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Barclays raised their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Wolfe Research assumed coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $143.53.

Read Our Latest Research Report on COP

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

About ConocoPhillips

(Free Report)

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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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