December 14, 2023 [Riverton Roll]- Stonebridge Capital Advisors LLC increased its position in ConocoPhillips (NYSE:COP) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 56,052 shares of the energy producer’s stock after acquiring an additional 1,217 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in ConocoPhillips were worth $5,808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in ConocoPhillips by 97,756.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,354,810,556 shares of the energy producer’s stock worth $140,371,922,000 after buying an additional 1,353,426,064 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of ConocoPhillips by 98,832.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after acquiring an additional 8,575,696 shares in the last quarter. Morgan Stanley boosted its holdings in shares of ConocoPhillips by 26.6% in the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after acquiring an additional 3,497,750 shares during the period. Cowa LLC grew its position in shares of ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after purchasing an additional 2,339,100 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in shares of ConocoPhillips by 794.6% during the 1st quarter. Two Sigma Investments LP now owns 2,313,596 shares of the energy producer’s stock valued at $229,532,000 after purchasing an additional 2,054,974 shares during the period. 80.36% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Timothy A. Leach sold 44,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $114.64, for a total value of $5,044,160.00. Following the transaction, the director now owns 578,748 shares in the company, valued at $66,347,670.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ConocoPhillips news, SVP Andrew D. Lundquist sold 30,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $123.83, for a total transaction of $3,813,964.00. Following the completion of the transaction, the senior vice president now owns 5,937 shares of the company’s stock, valued at approximately $735,178.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy A. Leach sold 44,000 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $114.64, for a total value of $5,044,160.00. Following the completion of the sale, the director now owns 578,748 shares of the company’s stock, valued at approximately $66,347,670.72. Over the last 90 days, insiders sold 76,649 shares of company stock valued at $9,089,600. 0.37% of the stock is currently owned by company insiders.

Analyst Ratings Changes

COP has been the subject of several analyst reports. StockNews assumed coverage on ConocoPhillips in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Erste Group Bank raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Truist Financial increased their target price on shares of ConocoPhillips from $151.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. UBS Group boosted their price target on shares of ConocoPhillips from $147.00 to $149.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Johnson Rice started coverage on shares of ConocoPhillips in a report on Tuesday, November 14th. They issued an “accumulate” rating and a $135.00 price target on the stock. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.90.

ConocoPhillips Trading Up 0.6 %

NYSE:COP traded up $0.70 during trading hours on Wednesday, reaching $111.76. The company’s stock had a trading volume of 494,518 shares, compared to its average volume of 5,665,090. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.53 and a current ratio of 1.66. The firm has a market capitalization of $132.70 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 0.68 and a beta of 1.22. The firm has a 50-day simple moving average of $117.13 and a 200-day simple moving average of $114.05. ConocoPhillips has a 1 year low of $91.53 and a 1 year high of $127.35.

ConocoPhillips (NYSE:COP ) last announced its quarterly earnings data on Thursday, November 2nd. The energy producer reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.12. ConocoPhillips had a return on equity of 23.30% and a net margin of 17.91%. The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $15.32 billion. Research analysts expect that ConocoPhillips will post 9.09 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $2.32 annualized dividend and a yield of 2.08%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s payout ratio is presently 25.36%.

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