ConocoPhillips $COP Position Lifted by Gemmer Asset Management LLC

Gemmer Asset Management LLC raised its position in ConocoPhillips (NYSE:COP) by 284.7% in the 3rd quarter, Holdings Channel reports. The firm owned 9,052 shares of the energy producer’s stock after buying an additional 6,699 shares during the period. Gemmer Asset Management LLC’s holdings in ConocoPhillips were worth $1,133,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Venture Visionary Partners LLC lifted its position in shares of ConocoPhillips by 263.6% in the third quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock worth $14,850,000 after purchasing an additional 86,019 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new position in ConocoPhillips during the second quarter worth $6,896,000. Qsemble Capital Management LP bought a new position in ConocoPhillips in the second quarter valued at $3,645,000. Cetera Trust Company N.A bought a new position in ConocoPhillips in the second quarter valued at $870,000. Finally, Osmosis Investment Management UK Ltd bought a new position in ConocoPhillips in the second quarter valued at $1,475,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on COP. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price target for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Mizuho reduced their price objective on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Truist Financial increased their price objective on shares of ConocoPhillips from $130.00 to $136.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Morgan Stanley raised their price objective on ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.62.

Insider Transactions at ConocoPhillips

In other ConocoPhillips 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 transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Up 3.3%

Shares of ConocoPhillips stock opened at $146.43 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $146.59. The stock has a market cap of $175.92 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.45 and a beta of 0.24. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $132.11 and its 200-day moving average is $122.44.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. Equities research analysts predict that ConocoPhillips will post 11.19 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.