Catalina Capital Group LLC Acquires 1,042 Shares of ConocoPhillips (NYSE:COP)

Catalina Capital Group LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 17.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,151 shares of the energy producer’s stock after buying an additional 1,042 shares during the period. Catalina Capital Group LLC’s holdings in ConocoPhillips were worth $818,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after buying an additional 108,956 shares during the period. Capital International Investors increased its position in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ConocoPhillips by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after buying an additional 826,529 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in ConocoPhillips by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after acquiring an additional 270,859 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

COP traded up $1.43 during midday trading on Friday, reaching $111.40. The company had a trading volume of 4,021,876 shares, compared to its average volume of 5,675,574. ConocoPhillips has a 12-month low of $102.27 and a 12-month high of $135.18. The business has a 50-day moving average price of $111.42 and a two-hundred day moving average price of $116.94. The stock has a market cap of $130.29 billion, a PE ratio of 12.62, a P/E/G ratio of 2.22 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts expect that ConocoPhillips will post 8.64 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.08%. ConocoPhillips’s payout ratio is 26.27%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. UBS Group upped their target price on ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial lowered their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Scotiabank reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Wolfe Research started coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.65.

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.