Hsbc Holdings PLC Has $280.19 Million Holdings in ConocoPhillips $COP

Hsbc Holdings PLC increased its position in shares of ConocoPhillips (NYSE:COP) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,992,999 shares of the energy producer’s stock after purchasing an additional 207,459 shares during the period. Hsbc Holdings PLC’s holdings in ConocoPhillips were worth $280,192,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of COP. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the fourth quarter worth $25,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Strive Asset Management LLC acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $28,000. Finally, BNP Paribas bought a new position in shares of ConocoPhillips during the 2nd quarter worth about $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 0.2%

Shares of NYSE:COP opened at $107.92 on Friday. The company’s fifty day moving average is $118.65 and its 200-day moving average is $111.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a market capitalization of $131.48 billion, a PE ratio of 18.32, a P/E/G ratio of 1.19 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the company posted $2.09 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the sale, the senior vice president owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This trade represents a 24.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 127,915 shares of company stock valued at $16,915,448. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their target price on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler increased their price target 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. Freedom Capital cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Finally, Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.48.

About ConocoPhillips

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.