American National Bank boosted its position in ConocoPhillips (NYSE:COP – Free Report) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,564 shares of the energy producer’s stock after buying an additional 515 shares during the quarter. American National Bank’s holdings in ConocoPhillips were worth $991,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Wealthspan Partners LLC lifted its position in shares of ConocoPhillips by 1.6% in the 4th quarter. Wealthspan Partners LLC now owns 6,245 shares of the energy producer’s stock worth $737,000 after buying an additional 98 shares during the last quarter. Horan Securities Inc. grew its stake in ConocoPhillips by 40.2% during the 1st quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock worth $35,000 after buying an additional 100 shares during the last quarter. Barden Capital Management Inc. increased its position in ConocoPhillips by 1.0% in the first quarter. Barden Capital Management Inc. now owns 10,562 shares of the energy producer’s stock worth $1,048,000 after buying an additional 100 shares during the period. Holderness Investments Co. lifted its stake in ConocoPhillips by 1.5% in the first quarter. Holderness Investments Co. now owns 6,882 shares of the energy producer’s stock valued at $683,000 after buying an additional 101 shares during the last quarter. Finally, LCM Capital Management Inc boosted its holdings in shares of ConocoPhillips by 5.3% during the first quarter. LCM Capital Management Inc now owns 2,036 shares of the energy producer’s stock valued at $202,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 80.36% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on COP shares. Piper Sandler cut their price objective on shares of ConocoPhillips from $149.00 to $125.00 in a research report on Tuesday, June 13th. Wells Fargo & Company lifted their target price on ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Erste Group Bank upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. StockNews.com started coverage on shares of ConocoPhillips in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Raymond James lowered their price objective on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th. Five investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $135.11.
Insider Buying and Selling
In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now directly owns 18,187 shares in the company, valued at $2,221,360.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by corporate insiders.
ConocoPhillips Trading Up 0.7 %
NYSE COP opened at $124.48 on Tuesday. The company has a current ratio of 1.41, a quick ratio of 1.28 and a debt-to-equity ratio of 0.33. ConocoPhillips has a 1-year low of $91.53 and a 1-year high of $138.49. The firm’s fifty day simple moving average is $116.22 and its 200-day simple moving average is $107.25. The company has a market capitalization of $149.06 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 0.78 and a beta of 1.30.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). The firm had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $14.64 billion. ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. During the same period in the previous year, the firm posted $3.91 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.74 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Wednesday, September 27th. ConocoPhillips’s payout ratio is presently 19.65%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.
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