Erste Asset Management GmbH Purchases 5,657 Shares of ConocoPhillips $COP

Erste Asset Management GmbH lifted its stake in shares of ConocoPhillips (NYSE:COP) by 18.3% in the 4th quarter, HoldingsChannel reports. The firm owned 36,575 shares of the energy producer’s stock after buying an additional 5,657 shares during the quarter. Erste Asset Management GmbH’s holdings in ConocoPhillips were worth $3,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Duncan Williams Asset Management LLC increased its stake in shares of ConocoPhillips by 4.4% during the 4th quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in shares of ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after purchasing an additional 101 shares during the last quarter. Strategic Blueprint LLC increased its stake in shares of ConocoPhillips by 1.3% during the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after purchasing an additional 101 shares during the last quarter. Chesapeake Wealth Management increased its stake in shares of ConocoPhillips by 1.5% during the 4th quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after purchasing an additional 103 shares during the last quarter. Finally, Oregon Pacific Wealth Management LLC increased its stake in shares of ConocoPhillips by 4.5% during the 4th quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on COP. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Truist Financial set a $128.00 price target on shares of ConocoPhillips in a research note on Friday, May 1st. Piper Sandler raised their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Argus raised their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Stock Down 1.8%

ConocoPhillips stock opened at $116.76 on Wednesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The firm has a market capitalization of $142.24 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 1.32 and a beta of 0.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $121.45 and a 200 day simple moving average of $109.99.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the business earned $2.09 EPS. ConocoPhillips’s revenue was down 6.1% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Insider Activity

In other news, SVP Heather G. Hrap sold 2,654 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $317,630.72. Following the completion of the transaction, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. The trade was a 31.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 686,391 shares of company stock worth $87,590,752. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.