First Horizon Advisors Inc. Boosts Stake in ConocoPhillips (NYSE:COP)

First Horizon Advisors Inc. raised its holdings in ConocoPhillips (NYSE:COPGet Rating) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 119,128 shares of the energy producer’s stock after purchasing an additional 4,418 shares during the quarter. First Horizon Advisors Inc.’s holdings in ConocoPhillips were worth $8,597,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 2.3% in the 3rd quarter. Wellington Management Group LLP now owns 36,622,434 shares of the energy producer’s stock valued at $2,481,902,000 after buying an additional 837,735 shares during the period. Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 21,905,930 shares of the energy producer’s stock valued at $1,480,226,000 after buying an additional 989,641 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of ConocoPhillips by 6.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 20,451,758 shares of the energy producer’s stock valued at $1,386,015,000 after buying an additional 1,168,903 shares during the period. Capital World Investors raised its holdings in shares of ConocoPhillips by 7.1% in the 3rd quarter. Capital World Investors now owns 19,853,204 shares of the energy producer’s stock valued at $1,345,452,000 after buying an additional 1,324,230 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of ConocoPhillips by 2.0% in the 3rd quarter. Invesco Ltd. now owns 17,740,732 shares of the energy producer’s stock valued at $1,202,288,000 after buying an additional 348,257 shares during the period. Institutional investors own 78.80% of the company’s stock.

Several research firms recently issued reports on COP. Truist Financial boosted their price objective on ConocoPhillips from $115.00 to $130.00 in a report on Thursday, April 21st. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Tuesday, April 19th. Mizuho boosted their target price on ConocoPhillips from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 31st. Credit Suisse Group boosted their target price on ConocoPhillips from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 4th. Finally, Zacks Investment Research cut ConocoPhillips from a “buy” rating to a “hold” rating and set a $107.00 target price for the company. in a research note on Tuesday, April 5th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $105.79.

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 112,300 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $92.99, for a total transaction of $10,442,777.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Dominic E. Macklon sold 19,200 shares of the company’s stock in a transaction that occurred on Tuesday, February 8th. The shares were sold at an average price of $91.13, for a total value of $1,749,696.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,800 shares of company stock valued at $15,730,870. 0.08% of the stock is owned by company insiders.

Shares of ConocoPhillips stock traded down $0.52 on Thursday, hitting $103.34. The stock had a trading volume of 503,757 shares, compared to its average volume of 6,546,369. ConocoPhillips has a 52-week low of $51.41 and a 52-week high of $107.52. The company has a current ratio of 1.34, a quick ratio of 1.23 and a debt-to-equity ratio of 0.41. The stock has a market cap of $133.93 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 0.35 and a beta of 1.36. The company’s 50 day moving average price is $99.10 and its 200 day moving average price is $85.80.

ConocoPhillips (NYSE:COPGet Rating) last posted its earnings results on Thursday, May 5th. The energy producer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.74. ConocoPhillips had a return on equity of 18.08% and a net margin of 16.71%. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $18.36 billion. During the same period in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 82.7% on a year-over-year basis. Analysts predict that ConocoPhillips will post 14.43 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Tuesday, May 17th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.78%. ConocoPhillips’s dividend payout ratio is presently 37.62%.

ConocoPhillips Company Profile (Get Rating)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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