2 weeks Ago By ABMN Staff
Northwestern Mutual Wealth Management Co. reduced its position in shares of ConocoPhillips ( NYSE:COP – Free Report ) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC).
The institutional investor owned 442,351 shares of the energy producer’s stock after selling 7,829 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ConocoPhillips were worth $50,596,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in 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 valued at $4,097,473,000 after purchasing an additional 8,479,963 shares in the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after acquiring an additional 3,127,165 shares during the period.
Capital International Investors raised its position in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the period.
Clearbridge Investments LLC raised its position in ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares during the period.
Finally, TD Asset Management Inc raised its position in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after acquiring an additional 712,062 shares during the period.
82.36% of the stock is owned by institutional investors. Wall Street Analyst Weigh In COP has been the topic of several research reports.
Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Mizuho reduced their target price on shares of ConocoPhillips from $132.
00 to $129.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Truist Financial reduced their target price on shares of ConocoPhillips from $147.
00 to $145.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. StockNews.
com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Five 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.
According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $141.24. ConocoPhillips Price Performance COP stock opened at $104.
72 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.
33 and a quick ratio of 1.19. ConocoPhillips has a one year low of $101.
29 and a one year high of $135.18. The stock has a market cap of $122.
47 billion, a PE ratio of 11.86, a P/E/G ratio of 0.85 and a beta of 1.
22. The firm has a 50 day simple moving average of $108.85 and a two-hundred day simple moving average of $116.
31. ConocoPhillips ( NYSE:COP – Get Free Report ) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.
98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02.
The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion.
ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%.
The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.
84 EPS. On average, analysts predict that ConocoPhillips will post 8.14 EPS for the current fiscal year.
ConocoPhillips Cuts Dividend The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend.
The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.
22%. ConocoPhillips’s payout ratio is 26.27%.
Insider Transactions at ConocoPhillips In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.
11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.
99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink . Company insiders own 0.
34% of the company’s stock. ConocoPhillips Company Profile ( Free Report ) 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.
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