ConocoPhillips $COP Shares Acquired by First Trust Advisors LP

First Trust Advisors LP lifted its holdings in ConocoPhillips (NYSE:COP) by 8.6% during the first quarter, Holdings Channel reports. The institutional investor owned 2,754,665 shares of the energy producer’s stock after purchasing an additional 218,423 shares during the quarter. First Trust Advisors LP’s holdings in ConocoPhillips were worth $363,616,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Saturna Capital Corp purchased a new position in ConocoPhillips in the first quarter worth $1,990,000. Millennium Capital Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth $265,000. Meiji Yasuda America Inc boosted its position in shares of ConocoPhillips by 6.0% during the 1st quarter. Meiji Yasuda America Inc now owns 86,896 shares of the energy producer’s stock worth $11,470,000 after purchasing an additional 4,898 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of ConocoPhillips by 1.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,198,534 shares of the energy producer’s stock worth $158,207,000 after purchasing an additional 22,457 shares during the period. Finally, Oslo Pensjonsforsikring AS acquired a new position in shares of ConocoPhillips during the 1st quarter worth $783,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.5%

NYSE:COP opened at $117.40 on Wednesday. The company has a market capitalization of $143.03 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 1.40 and a beta of 0.12. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The stock has a fifty day simple moving average of $113.48 and a 200-day simple moving average of $113.84.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. On average, equities research analysts expect that ConocoPhillips will post 9.2 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is 57.05%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Truist Financial reduced their price objective on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wolfe Research increased their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Morgan Stanley reduced their price target on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Finally, Barclays boosted their price target on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.