Mattson Financial Services LLC Acquires 5,859 Shares of ConocoPhillips $COP

Mattson Financial Services LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 26.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,841 shares of the energy producer’s stock after buying an additional 5,859 shares during the quarter. Mattson Financial Services LLC’s holdings in ConocoPhillips were worth $2,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of COP. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after buying an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new position in ConocoPhillips in the first quarter valued at about $658,981,000. AQR Capital Management LLC raised its position in ConocoPhillips by 190.5% in the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock valued at $484,539,000 after purchasing an additional 3,058,505 shares during the last quarter. GAMMA Investing LLC raised its position in ConocoPhillips by 10,440.1% in the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock valued at $311,299,000 after purchasing an additional 2,936,066 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in ConocoPhillips by 30.2% in the first quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the completion of the purchase, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on COP. Raymond James Financial dropped their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $123.00 target price (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Wall Street Zen downgraded ConocoPhillips from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Piper Sandler increased their target price on ConocoPhillips from $123.00 to $124.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Finally, Scotiabank increased their price target on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $120.86.

ConocoPhillips Trading Up 2.5%

Shares of COP stock opened at $94.20 on Thursday. The stock has a market cap of $117.65 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.42 and a beta of 0.69. The stock has a 50-day moving average of $94.78 and a 200-day moving average of $93.04. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.98 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

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.