US Bancorp DE Increases Stock Holdings in ConocoPhillips (NYSE:COP)

US Bancorp DE raised its position in shares of ConocoPhillips (NYSE:COP) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 915,392 shares of the energy producer’s stock after buying an additional 1,189 shares during the quarter. US Bancorp DE owned about 0.08% of ConocoPhillips worth $106,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd bought a new position in shares of ConocoPhillips during the third quarter valued at $310,102,000. Capital Wealth Planning LLC increased its holdings in ConocoPhillips by 45,426.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after buying an additional 1,425,946 shares in the last quarter. International Assets Investment Management LLC increased its holdings in ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after buying an additional 1,106,305 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in ConocoPhillips in the 3rd quarter worth about $99,676,000. Finally, Pacer Advisors Inc. increased its holdings in ConocoPhillips by 29.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after buying an additional 776,107 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on COP shares. UBS Group lifted their price objective on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Mizuho raised their target price on ConocoPhillips from $139.00 to $142.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Truist Financial dropped their target price on ConocoPhillips from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Scotiabank raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 11th. Finally, Royal Bank of Canada lifted their price objective on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.24.

ConocoPhillips Stock Down 0.1 %

Shares of COP traded down $0.07 during midday trading on Friday, reaching $117.58. 863,682 shares of the stock were exchanged, compared to its average volume of 5,239,928. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $125.98 and its two-hundred day moving average is $117.74. The company has a market capitalization of $137.51 billion, a P/E ratio of 13.32, a PEG ratio of 2.60 and a beta of 1.25. ConocoPhillips has a 52 week low of $98.38 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. On average, sell-side analysts anticipate that ConocoPhillips will post 9.09 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.65%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Activity

In other news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 664,350 shares of company stock worth $83,537,680. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Company Profile

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.