Treasurer of the State of North Carolina Acquires 77,753 Shares of ConocoPhillips $COP

by · The Cerbat Gem

Treasurer of the State of North Carolina raised its holdings in ConocoPhillips (NYSE:COP – Free Report) by 12.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 713,010 shares of the energy producer’s stock after acquiring an additional 77,753 shares during the period. Treasurer of the State of North Carolina’s holdings in ConocoPhillips were worth $63,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of COP. Charles Schwab Investment Management Inc. grew its stake in shares of ConocoPhillips by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after acquiring an additional 287,970 shares during the last quarter. Wellington Management Group LLP raised its stake in ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after purchasing an additional 224,201 shares during the period. Ameriprise Financial Inc. grew its position in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the last quarter. Finally, Primecap Management Co. CA grew its position in ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after purchasing an additional 3,135,315 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Down 0.1%

COP opened at $96.75 on Friday. The firm has a market cap of $119.56 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.19 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm’s 50-day simple moving average is $89.54 and its 200-day simple moving average is $92.00. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20.

ConocoPhillips (NYSE:COP – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips’s dividend payout ratio is currently 47.52%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on COP. Melius started coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $115.00 price target on shares of ConocoPhillips in a research note on Monday, November 24th. Wells Fargo & Company assumed coverage on ConocoPhillips in a research report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price objective for the company. Capital One Financial lifted their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Finally, Barclays lowered their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.42.

View Our Latest Analysis on COP

Insider Buying and Selling

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Company Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.

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