KBC Group NV Acquires 5,767 Shares of ConocoPhillips $COP

KBC Group NV increased its stake in ConocoPhillips (NYSE:COP) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 288,816 shares of the energy producer’s stock after purchasing an additional 5,767 shares during the quarter. KBC Group NV’s holdings in ConocoPhillips were worth $25,918,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Navalign LLC boosted its holdings in ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after purchasing an additional 108 shares during the period. Tritonpoint Wealth LLC increased its holdings in shares of ConocoPhillips by 1.3% during the second quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after buying an additional 110 shares in the last quarter. Iowa State Bank raised its position in ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the last quarter. First National Bank Sioux Falls lifted its position in ConocoPhillips by 4.6% during the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after buying an additional 113 shares in the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of ConocoPhillips by 2.6% in the first quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock valued at $473,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on COP shares. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI cut their price objective on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a report on Monday, October 6th. Weiss Ratings upgraded ConocoPhillips from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 7th. Finally, BMO Capital Markets upped their price objective on ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. Eighteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.33.

ConocoPhillips Stock Up 0.3%

COP opened at $89.38 on Friday. The stock’s fifty day simple moving average is $90.96 and its 200 day simple moving average is $91.94. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38. The stock has a market cap of $110.45 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. 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 (NYSE:COP) last released its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $15.03 billion during the quarter, compared to analysts’ expectations of $14.51 billion. During the same period in the previous year, the business posted $1.78 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.8%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Insider Transactions at ConocoPhillips

In other news, Director William H. Mcraven acquired 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

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.