Quilter Plc Sells 3,240 Shares of ConocoPhillips (NYSE:COP)

by · The Markets Daily

Quilter Plc reduced its position in ConocoPhillips (NYSE:COP – Free Report) by 12.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,129 shares of the energy producer’s stock after selling 3,240 shares during the period. Quilter Plc’s holdings in ConocoPhillips were worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in COP. Murphy & Mullick Capital Management Corp bought a new stake in shares of ConocoPhillips in the fourth quarter valued at approximately $26,000. 10Elms LLP bought a new position in ConocoPhillips in the 4th quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the 4th quarter valued at approximately $32,000. Garde Capital Inc. bought a new stake in ConocoPhillips during the 1st quarter valued at $35,000. Finally, Rakuten Securities Inc. lifted its position in shares of ConocoPhillips by 222.0% during the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock worth $38,000 after acquiring an additional 262 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on COP shares. Barclays reduced their price target on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Citigroup reduced their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Morgan Stanley raised their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Piper Sandler decreased their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.50.

Get Our Latest Report on ConocoPhillips

ConocoPhillips Trading Up 2.1%

COP stock opened at $90.88 on Friday. The company has a market capitalization of $114.89 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company’s 50 day moving average price is $89.93 and its two-hundred day moving average price is $95.15.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter last year, the company earned $2.05 EPS. As a group, analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.

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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