Allworth Financial LP decreased its holdings in ConocoPhillips (NYSE:COP – Get Rating) by 20.2% during the second quarter, HoldingsChannel.com reports. The firm owned 17,107 shares of the energy producer’s stock after selling 4,333 shares during the quarter. Allworth Financial LP’s holdings in ConocoPhillips were worth $1,536,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Capital World Investors increased its stake in ConocoPhillips by 62.4% in the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock worth $2,346,309,000 after purchasing an additional 9,014,700 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in ConocoPhillips in the first quarter worth $702,569,000. BlackRock Inc. increased its stake in ConocoPhillips by 3.4% in the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after purchasing an additional 3,652,817 shares during the period. Capital Research Global Investors increased its stake in ConocoPhillips by 28.2% in the first quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock worth $1,233,506,000 after purchasing an additional 2,715,820 shares during the period. Finally, Cowa LLC increased its stake in ConocoPhillips by 6,475.2% in the first quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock worth $2,383,000 after purchasing an additional 2,339,100 shares during the period. Hedge funds and other institutional investors own 79.66% of the company’s stock.
ConocoPhillips Price Performance
Shares of NYSE COP opened at $110.06 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54. The company has a market cap of $142.36 billion, a PE ratio of 9.09, a P/E/G ratio of 0.39 and a beta of 1.31. The business has a 50-day simple moving average of $102.42 and a two-hundred day simple moving average of $101.24. ConocoPhillips has a fifty-two week low of $62.25 and a fifty-two week high of $124.08.
ConocoPhillips Announces Dividend
The firm also recently declared a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were issued a $1.40 dividend. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio is presently 15.19%.
Insiders Place Their Bets
In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on COP shares. Truist Financial cut their price target on ConocoPhillips from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Bank of America raised their price target on ConocoPhillips from $134.00 to $140.00 and gave the company a “buy” rating in a research note on Monday. Societe Generale raised their price target on ConocoPhillips to $127.00 in a research note on Thursday, June 9th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, The Goldman Sachs Group cut their price target on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, June 22nd. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.79.
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.
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