Bank of Montreal Can trimmed its stake in ConocoPhillips (NYSE:COP) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,517,933 shares of the energy producer’s stock after selling 22,920 shares during the quarter. Bank of Montreal Can’s holdings in ConocoPhillips were worth $207,734,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of COP. Principal Financial Group Inc. boosted its holdings in ConocoPhillips by 12.5% during the first quarter. Principal Financial Group Inc. now owns 1,853,989 shares of the energy producer’s stock worth $98,206,000 after purchasing an additional 205,533 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in ConocoPhillips by 73.2% during the first quarter. Kestra Advisory Services LLC now owns 94,535 shares of the energy producer’s stock valued at $5,008,000 after purchasing an additional 39,954 shares during the period. Guardian Wealth Advisors LLC bought a new position in ConocoPhillips during the first quarter valued at $174,000. Blume Capital Management Inc. purchased a new stake in ConocoPhillips in the first quarter worth $74,000. Finally, Coastline Trust Co bought a new stake in shares of ConocoPhillips in the first quarter valued at $259,000. 78.47% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on COP shares. Truist Securities lifted their price objective on ConocoPhillips from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, September 21st. Barclays boosted their price target on shares of ConocoPhillips from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. TheStreet upgraded shares of ConocoPhillips from a “c” rating to a “b” rating in a research note on Tuesday, August 3rd. KeyCorp lifted their price objective on shares of ConocoPhillips from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Wednesday, July 21st. Finally, Morgan Stanley dropped their target price on ConocoPhillips from $85.00 to $82.00 and set an “overweight” rating on the stock in a research report on Monday, August 23rd. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $72.59.
Shares of ConocoPhillips stock opened at $66.71 on Tuesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.97 and a current ratio of 2.11. ConocoPhillips has a 52-week low of $27.53 and a 52-week high of $66.95. The company’s 50 day moving average price is $56.77 and its 200-day moving average price is $56.28. The stock has a market capitalization of $89.33 billion, a price-to-earnings ratio of 57.51, a P/E/G ratio of 1.56 and a beta of 1.77.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter last year, the firm earned ($0.92) EPS. As a group, equities research analysts forecast that ConocoPhillips will post 4.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Thursday, October 28th will be given a $0.46 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, October 27th. ConocoPhillips’s dividend payout ratio (DPR) is currently -177.32%.
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.
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