ConocoPhillips (NYSE:COP) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN raised its stake in shares of ConocoPhillips (NYSE:COP) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,580 shares of the energy producer’s stock after buying an additional 158 shares during the quarter. OLD National Bancorp IN’s holdings in ConocoPhillips were worth $11,823,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Tallon Kerry Patrick purchased a new position in shares of ConocoPhillips during the 4th quarter worth $511,000. Financial Advocates Investment Management lifted its stake in shares of ConocoPhillips by 201.8% during the 4th quarter. Financial Advocates Investment Management now owns 11,573 shares of the energy producer’s stock worth $1,148,000 after purchasing an additional 7,738 shares during the period. Silver Oak Securities Incorporated lifted its stake in shares of ConocoPhillips by 17.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,085 shares of the energy producer’s stock worth $202,000 after purchasing an additional 311 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of ConocoPhillips by 36.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,256 shares of the energy producer’s stock worth $125,000 after purchasing an additional 333 shares during the period. Finally, Leo Wealth LLC lifted its stake in shares of ConocoPhillips by 106.9% during the 4th quarter. Leo Wealth LLC now owns 10,096 shares of the energy producer’s stock worth $1,001,000 after purchasing an additional 5,216 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.1%

NYSE:COP opened at $87.18 on Friday. The company has a market capitalization of $110.21 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The stock has a 50-day simple moving average of $88.74 and a 200 day simple moving average of $96.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The firm had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter last year, the company posted $2.05 earnings per share. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.58%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Mizuho reduced their price target on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company cut their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Piper Sandler cut their target price on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Scotiabank cut their target price on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $121.63.

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.