Johnson Investment Counsel Inc. Purchases 1,721 Shares of ConocoPhillips (NYSE:COP)

Johnson Investment Counsel Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 6.1% in the second quarter, HoldingsChannel reports. The firm owned 30,012 shares of the energy producer’s stock after acquiring an additional 1,721 shares during the period. Johnson Investment Counsel Inc.’s holdings in ConocoPhillips were worth $1,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of COP. Principal Financial Group Inc. increased its holdings in shares of ConocoPhillips by 12.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,853,989 shares of the energy producer’s stock valued at $98,206,000 after acquiring an additional 205,533 shares during the period. Acadian Asset Management LLC grew its stake in ConocoPhillips by 561.8% during the 1st quarter. Acadian Asset Management LLC now owns 29,299 shares of the energy producer’s stock valued at $1,552,000 after purchasing an additional 24,872 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in ConocoPhillips during the 1st quarter valued at about $126,000. Quilter Plc grew its stake in ConocoPhillips by 104.6% during the 1st quarter. Quilter Plc now owns 141,851 shares of the energy producer’s stock valued at $7,513,000 after purchasing an additional 72,510 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of ConocoPhillips by 39.4% in the 1st quarter. CIBC Private Wealth Group LLC now owns 86,708 shares of the energy producer’s stock valued at $4,592,000 after buying an additional 24,522 shares during the period. 78.47% of the stock is owned by institutional investors and hedge funds.

NYSE COP opened at $73.23 on Thursday. The company has a 50-day moving average price of $60.41 and a two-hundred day moving average price of $57.66. The company has a current ratio of 2.11, a quick ratio of 1.97 and a debt-to-equity ratio of 0.42. The stock has a market cap of $98.06 billion, a price-to-earnings ratio of 63.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.77. ConocoPhillips has a 52 week low of $27.53 and a 52 week high of $75.52.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Tuesday, August 3rd. The energy producer reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.17. The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.44 billion. ConocoPhillips had a net margin of 5.93% and a return on equity of 5.64%. During the same quarter in the prior year, the firm earned ($0.92) EPS. As a group, equities research analysts expect that ConocoPhillips will post 4.79 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Shareholders of record on Thursday, October 28th will be given a $0.46 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, October 27th. This represents a $1.84 dividend on an annualized basis and a yield of 2.51%. ConocoPhillips’s dividend payout ratio is presently -177.32%.

A number of equities analysts recently weighed in on the company. KeyCorp upped their price target on ConocoPhillips from $76.00 to $78.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada upped their price target on ConocoPhillips from $73.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, July 1st. Morgan Stanley upped their price target on ConocoPhillips from $82.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 6th. BMO Capital Markets upped their price target on ConocoPhillips from $72.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, July 1st. Finally, Truist upped their price target on ConocoPhillips from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, October 7th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $76.32.

In related news, Director R A. Walker bought 18,000 shares of the business’s stock in a transaction on Monday, August 9th. The stock was bought at an average price of $55.50 per share, for a total transaction of $999,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska; Lower 48; Canada; Europe, Middle East and North Africa; Asia Pacific; and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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