Janus Henderson Group PLC Acquires 2,496,606 Shares of ConocoPhillips $COP

Janus Henderson Group PLC boosted its holdings in ConocoPhillips (NYSE:COP) by 207.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,697,232 shares of the energy producer’s stock after purchasing an additional 2,496,606 shares during the period. Janus Henderson Group PLC owned about 0.30% of ConocoPhillips worth $488,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. Bull Harbor Capital LLC bought a new position in ConocoPhillips in the 1st quarter valued at $579,000. Strategic Investment Advisors MI bought a new stake in shares of ConocoPhillips during the 1st quarter worth $237,000. Ashton Thomas Securities LLC bought a new position in ConocoPhillips during the first quarter valued at about $224,000. Arkadios Wealth Advisors grew its position in ConocoPhillips by 2.3% during the first quarter. Arkadios Wealth Advisors now owns 52,958 shares of the energy producer’s stock valued at $6,990,000 after buying an additional 1,183 shares during the period. Finally, Encore Global Management LP purchased a new stake in ConocoPhillips during the first quarter worth about $2,244,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Truist Financial reduced their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research report on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Sanford C. Bernstein lifted their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. Finally, Scotiabank upped their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $134.16.

ConocoPhillips Price Performance

NYSE COP opened at $118.17 on Thursday. The company has a market cap of $143.97 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.38 and a beta of 0.12. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm’s 50-day simple moving average is $113.01 and its two-hundred day simple moving average is $114.74.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business earned $2.09 earnings per share. Research analysts predict that ConocoPhillips will post 9.2 earnings per share for the current year.

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.