Barnett & Company Inc. Sells 649 Shares of ConocoPhillips (NYSE:COP)

Barnett & Company Inc. reduced its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 2.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,907 shares of the energy producer’s stock after selling 649 shares during the period. ConocoPhillips comprises approximately 2.0% of Barnett & Company Inc.’s portfolio, making the stock its 15th biggest position. Barnett & Company Inc.’s holdings in ConocoPhillips were worth $2,406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Charles Schwab Investment Management Inc. grew its holdings in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after acquiring an additional 31,736,423 shares in the last quarter. Nuveen LLC purchased a new position in ConocoPhillips in the first quarter worth $658,981,000. Price T Rowe Associates Inc. MD boosted its position in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Northern Trust Corp boosted its position in ConocoPhillips by 27.6% in the fourth quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after purchasing an additional 2,971,661 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in ConocoPhillips by 10,440.1% in the first quarter. GAMMA Investing LLC now owns 2,964,189 shares of the energy producer’s stock worth $311,299,000 after purchasing an additional 2,936,066 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 1.4%

NYSE:COP opened at $93.91 on Friday. The company has a market cap of $118.72 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.44 and a beta of 0.67. The stock’s fifty day moving average price is $92.77 and its two-hundred day moving average price is $93.66. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.13.

ConocoPhillips (NYSE:COPGet Free Report) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.06. The firm had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.98 earnings per share. As a group, analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Activity

In related news, EVP Kirk L. Johnson bought 5,300 shares of the company’s stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on COP shares. UBS Group boosted their price objective on ConocoPhillips from $111.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Citigroup cut their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Barclays cut their price objective on ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Piper Sandler reissued an “overweight” rating and issued a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research report on Tuesday, July 15th. Finally, Raymond James Financial increased their price objective on ConocoPhillips from $109.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.63.

View Our Latest Stock Report on COP

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.

See Also

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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