ConocoPhillips $COP Stock Bought by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. grew its stake in ConocoPhillips (NYSE:COP) by 59.6% during the 3rd quarter, Holdings Channel reports. The fund owned 2,126,398 shares of the energy producer’s stock after acquiring an additional 794,144 shares during the period. ConocoPhillips comprises about 0.7% of Eurizon Capital SGR S.p.A.’s portfolio, making the stock its 26th biggest position. Eurizon Capital SGR S.p.A.’s holdings in ConocoPhillips were worth $266,338,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in COP. Venture Visionary Partners LLC grew its holdings in ConocoPhillips by 263.6% in the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock valued at $14,850,000 after buying an additional 86,019 shares during the period. Cooper Financial Group raised its holdings in ConocoPhillips by 55.9% in the third quarter. Cooper Financial Group now owns 11,635 shares of the energy producer’s stock valued at $1,456,000 after buying an additional 4,172 shares during the period. B. Metzler seel. Sohn & Co. AG purchased a new position in ConocoPhillips in the second quarter valued at approximately $6,896,000. NewEdge Advisors LLC lifted its position in ConocoPhillips by 22.7% during the second quarter. NewEdge Advisors LLC now owns 243,708 shares of the energy producer’s stock valued at $25,336,000 after buying an additional 45,088 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new position in ConocoPhillips during the second quarter valued at approximately $3,645,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $140.13 on Friday. The company has a market cap of $165.68 billion, a P/E ratio of 14.72, a PEG ratio of 1.26 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.52. ConocoPhillips has a one year low of $85.70 and a one year high of $154.28. The business’s 50-day simple moving average is $137.15 and its 200 day simple moving average is $122.89.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.05 by $0.22. The firm had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.59 billion. ConocoPhillips had a return on equity of 17.60% and a net margin of 16.55%. ConocoPhillips’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. On average, sell-side analysts forecast that ConocoPhillips will post 12.13 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 16th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio is presently 35.29%.

Analyst Ratings Changes

Several equities research analysts have issued reports on COP shares. Piper Sandler began coverage on shares of ConocoPhillips in a research note on Tuesday, October 27th. They set a “neutral” rating and a $157.00 price objective for the company. Wells Fargo & Company cut their target price on shares of ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, November 6th. Mizuho set a $149.00 target price on shares of ConocoPhillips in a report on Thursday, November 5th. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target for the company. Finally, Argus upped their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $144.73.

Key Stories Impacting ConocoPhillips

Investors following COP have been watching these stories:

• Positive Sentiment: The company raised its dividend by 11% and is returning substantial cash through buybacks. Its latest reported quarter also topped analyst expectations for earnings and revenue, supporting the case for continued cash generation. ConocoPhillips (COP) Stock Looks Like A Bargain After Fresh Results
• Negative Sentiment: Sanford C. Bernstein cut its rating from outperform to market perform and lowered its price target to $122, implying notable downside from the referenced share price. Sanford C. Bernstein stock recommendations
• Negative Sentiment: Freedom Broker also downgraded COP, from buy to hold, with a $138 target. Separately, the recent analysis cautions that the stock’s 127.4% five-year gain may have stretched its valuation relative to earnings. ConocoPhillips stock moved down to hold by Freedom Broker ConocoPhillips stock looks like a bargain after fresh results

About ConocoPhillips

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.