Harel Insurance Investments & Financial Services Ltd. Buys 5,424 Shares of ConocoPhillips $COP

Harel Insurance Investments & Financial Services Ltd. increased its stake in ConocoPhillips (NYSE:COP) by 200.6% in the 1st quarter, Holdings Channel reports. The firm owned 8,128 shares of the energy producer’s stock after purchasing an additional 5,424 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in ConocoPhillips were worth $1,072,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in COP. Patten Group Inc. raised its stake in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after purchasing an additional 83 shares during the last quarter. IFC Advisors LLC grew its position in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after buying an additional 84 shares in the last quarter. Blue Trust Inc. increased its stake in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after acquiring an additional 92 shares during the period. Sigma Planning Corp raised its holdings in ConocoPhillips by 0.6% in the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after acquiring an additional 94 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its holdings in ConocoPhillips by 0.9% in the 4th quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after acquiring an additional 95 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

COP has been the subject of several research reports. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and raised their target price for the stock from $124.00 to $130.00 in a research report on Monday, June 22nd. Capital One Financial dropped their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. The Goldman Sachs Group dropped their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Truist Financial cut their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a research note on Wednesday, July 8th. Finally, Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.04.

ConocoPhillips Stock Down 0.3%

ConocoPhillips stock opened at $111.49 on Thursday. The company has a 50 day moving average of $113.50 and a 200-day moving average of $113.21. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a market capitalization of $135.82 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.12.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. On average, equities research analysts anticipate that ConocoPhillips will post 9.27 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

About ConocoPhillips

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.