CWA Asset Management Group LLC Grows Stock Holdings in ConocoPhillips (NYSE:COP)

CWA Asset Management Group LLC increased its stake in ConocoPhillips (NYSE:COPFree Report) by 59.7% in the 1st quarter, Holdings Channel reports. The fund owned 5,587 shares of the energy producer’s stock after buying an additional 2,089 shares during the quarter. CWA Asset Management Group LLC’s holdings in ConocoPhillips were worth $587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after purchasing an additional 12,751,120 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 13.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Capital International Investors grew its holdings in shares of ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock valued at $3,101,989,000 after buying an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. raised its position in ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after acquiring an additional 4,211,939 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE:COP opened at $94.76 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $89.65 and a two-hundred day moving average price of $95.52. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a market capitalization of $119.79 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a yield of 3.29%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president now directly owns 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Barclays decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Susquehanna dropped their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Bank of America decreased their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Piper Sandler reduced their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.30.

Check Out Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips 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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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