Atticus Wealth Management LLC Boosts Holdings in ConocoPhillips (NYSE:COP)

Atticus Wealth Management LLC lifted its holdings in ConocoPhillips (NYSE:COPGet Rating) by 600.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 980 shares of the energy producer’s stock after buying an additional 840 shares during the period. Atticus Wealth Management LLC’s holdings in ConocoPhillips were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Capital World Investors grew its holdings in shares of ConocoPhillips by 62.4% in the first quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock valued at $2,346,309,000 after purchasing an additional 9,014,700 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $702,569,000. BlackRock Inc. lifted its position in shares of ConocoPhillips by 3.4% during the 4th quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after buying an additional 3,652,817 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of ConocoPhillips by 28.2% in the 1st quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock valued at $1,233,506,000 after acquiring an additional 2,715,820 shares during the period. Finally, Cowa LLC increased its holdings in shares of ConocoPhillips by 6,475.2% in the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after acquiring an additional 2,339,100 shares during the period. 79.66% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $111.09 on Thursday. ConocoPhillips has a 52 week low of $60.21 and a 52 week high of $124.08. 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 stock has a market capitalization of $143.69 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.39 and a beta of 1.31. The firm has a fifty day moving average of $101.85 and a two-hundred day moving average of $101.18.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same period in the prior year, the company earned $1.27 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 14.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a None dividend, which was paid on Thursday, September 1st. Shareholders of record on Tuesday, August 16th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is presently 15.19%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COP shares. Piper Sandler boosted their price objective on shares of ConocoPhillips from $123.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, September 12th. Mizuho lowered their price target on shares of ConocoPhillips from $148.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, August 18th. Morgan Stanley upped their price target on shares of ConocoPhillips from $117.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, August 29th. MKM Partners upped their price target on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, August 26th. Finally, The Goldman Sachs Group cut their price target on ConocoPhillips from $140.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. Three research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.79.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 10,950 shares of ConocoPhillips stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total value of $1,275,894.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

ConocoPhillips Profile

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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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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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