Capital Insight Partners LLC Raises Holdings in ConocoPhillips (NYSE:COP)

10 Oct 2024, 18:55 by Danessa Lincoln · The Markets Daily

Capital Insight Partners LLC raised its stake in ConocoPhillips (NYSE:COP – Free Report) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,700 shares of the energy producer’s stock after purchasing an additional 108 shares during the quarter. Capital Insight Partners LLC’s holdings in ConocoPhillips were worth $600,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of COP. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter. Capital International Investors increased its stake in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ConocoPhillips by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after buying an additional 438,241 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of ConocoPhillips by 2.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after buying an additional 191,519 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of ConocoPhillips by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after buying an additional 109,885 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $1.02 during midday trading on Thursday, reaching $111.99. The company’s stock had a trading volume of 1,965,069 shares, compared to its average volume of 5,933,745. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a market cap of $130.98 billion, a P/E ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21. The company has a fifty day simple moving average of $108.89 and a 200 day simple moving average of $115.76. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP – Get Free Report) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the company earned $1.84 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Analyst Ratings Changes

COP has been the subject of a number of research reports. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company lowered their price objective on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Sanford C. Bernstein dropped their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, UBS Group dropped their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

Read Our Latest Research Report on ConocoPhillips

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

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