602,983 Shares in ConocoPhillips $COP Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 602,983 shares of the energy producer’s stock, valued at approximately $60,112,000.

A number of other hedge funds also recently bought and sold shares of the business. Mach 1 Financial Group LLC purchased a new position in shares of ConocoPhillips during the 4th quarter worth $1,169,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $6,896,000. Jennison Associates LLC increased its position in ConocoPhillips by 7.6% during the fourth quarter. Jennison Associates LLC now owns 153,240 shares of the energy producer’s stock worth $14,345,000 after purchasing an additional 10,779 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in ConocoPhillips by 4.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,608,643 shares of the energy producer’s stock worth $252,256,000 after purchasing an additional 102,577 shares during the last quarter. Finally, Cypress Point Wealth Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $2,751,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COP shares. UBS Group boosted their target price on shares of ConocoPhillips from $143.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Truist Financial upped their price objective on ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 10th. Raymond James Financial reiterated an “underperform” rating and issued a $168.00 price objective on shares of ConocoPhillips in a research report on Monday. Finally, Barclays reduced their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Stock Performance

Shares of COP stock opened at $129.57 on Friday. The firm’s 50 day moving average price is $116.97 and its 200-day moving average price is $118.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a one year low of $85.57 and a one year high of $135.88. The firm has a market cap of $155.66 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.38 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. As a group, equities research analysts predict that ConocoPhillips will post 10.55 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s payout ratio is presently 44.44%.

ConocoPhillips Company Profile

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.