ConocoPhillips $COP is Miller Howard Investments Inc. NY’s 9th Largest Position

Miller Howard Investments Inc. NY grew its stake in shares of ConocoPhillips (NYSE:COP) by 7.5% during the first quarter, HoldingsChannel.com reports. The fund owned 609,900 shares of the energy producer’s stock after buying an additional 42,352 shares during the quarter. ConocoPhillips accounts for about 2.2% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 9th biggest position. Miller Howard Investments Inc. NY’s holdings in ConocoPhillips were worth $80,507,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COP. Capital International Investors raised its stake in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares during the last quarter. AQR Capital Management LLC increased its position in shares of ConocoPhillips by 229.2% during the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock valued at $336,544,000 after purchasing an additional 2,503,156 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after buying an additional 2,467,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after buying an additional 2,350,645 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after buying an additional 2,216,010 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $110.15 on Wednesday. The company has a market cap of $134.20 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.21 and a beta of 0.11. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm’s fifty day moving average is $118.13 and its two-hundred day moving average is $111.67.

ConocoPhillips (NYSE:COP) last issued 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 return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter last year, the business posted $2.09 earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. ConocoPhillips’s payout ratio is presently 57.05%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Wall Street analyst coverage turned more bullish on ConocoPhillips, with one note highlighting higher price targets and a generally favorable outlook for the stock. This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday
• Positive Sentiment: Energy stocks broadly strengthened late Monday, suggesting improved sector sentiment that can support ConocoPhillips along with peers. Sector Update: Energy Stocks Rise Late Afternoon
• Positive Sentiment: Reports that ConocoPhillips is expanding its LNG reach across energy markets point to longer-term growth opportunities and diversification. Why Is ConocoPhillips (NYSE:COP) Expanding LNG Reach Across Energy Markets?
• Neutral Sentiment: Broader energy-market commentary continues to focus on oil-price volatility and sector concentration risks, which adds uncertainty but does not directly change ConocoPhillips’ outlook. XLE’s Concentration Risk Meets Oil’s Next Move: What to Monitor in June
• Negative Sentiment: One recent headline says ConocoPhillips is slipping as crude oil pressure builds, reflecting the near-term headwind from weaker oil prices. ConocoPhillips (NYSE:COP) Slips As Crude Oil Pressure Builds

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Argus lifted their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Truist Financial set a $128.00 price target on ConocoPhillips in a research report on Friday, May 1st. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday. Finally, Citigroup lifted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.32.

ConocoPhillips Company 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.