13,400 Shares in ConocoPhillips $COP Bought by Versor Investments LP

Versor Investments LP acquired a new position in ConocoPhillips (NYSE:COP) during the fourth quarter, Holdings Channel reports. The firm acquired 13,400 shares of the energy producer’s stock, valued at approximately $1,254,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the last quarter. Capital International Investors increased its stake in ConocoPhillips by 18.2% in the third quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares during the last quarter. Fisher Asset Management LLC increased its stake in ConocoPhillips by 1.8% in the third quarter. Fisher Asset Management LLC now owns 14,653,966 shares of the energy producer’s stock valued at $1,386,119,000 after acquiring an additional 260,091 shares during the last quarter. Ameriprise Financial Inc. increased its stake in ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after acquiring an additional 2,216,010 shares during the last quarter. Finally, Primecap Management Co. CA increased its stake in ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after acquiring an additional 2,467,555 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.5%

NYSE COP opened at $115.55 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $140.77 billion, a PE ratio of 19.62, a PEG ratio of 1.60 and a beta of 0.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The business’s 50-day moving average is $122.86 and its 200 day moving average is $105.51.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 9.5 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 2,654 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the sale, the senior vice president directly owned 5,663 shares in the company, valued at $677,747.84. This trade represents a 31.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Lundquist sold 34,500 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the completion of the sale, the senior vice president owned 17,469 shares of the company’s stock, valued at $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 over the last ninety days. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on COP shares. Morgan Stanley increased their target price on ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Bank of America reaffirmed an “underperform” rating and set a $102.00 price objective on shares of ConocoPhillips in a research note on Friday, January 16th. Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Susquehanna raised their price objective on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, Piper Sandler raised their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.04.

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.