Erste Asset Management GmbH Has $3.39 Million Stake in ConocoPhillips $COP

Erste Asset Management GmbH boosted its stake in ConocoPhillips (NYSE:COP) by 18.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,575 shares of the energy producer’s stock after purchasing an additional 5,657 shares during the period. Erste Asset Management GmbH’s holdings in ConocoPhillips were worth $3,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in ConocoPhillips by 14.7% during the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after purchasing an additional 298,245 shares during the period. Natixis Advisors LLC grew its stake in ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after purchasing an additional 160,410 shares during the period. Concurrent Investment Advisors LLC grew its stake in ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after purchasing an additional 20,501 shares during the period. SPX Gestao de Recursos Ltda acquired a new stake in ConocoPhillips during the third quarter worth approximately $1,892,000. Finally, D.A. Davidson & CO. grew its stake in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the transaction, the chief executive officer owned 6,835 shares of the company’s stock, valued at $869,822.10. This trade represents a 98.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $317,630.72. Following the transaction, the senior vice president directly owned 5,663 shares in the company, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 686,391 shares of company stock worth $87,590,752. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $116.76 on Wednesday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The stock has a market cap of $142.24 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.32 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm’s 50-day simple moving average is $121.45 and its 200 day simple moving average is $109.99.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Scotiabank increased their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. Piper Sandler increased their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.