ConocoPhillips $COP Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of ConocoPhillips (NYSE:COP) by 4.3% in the first quarter, HoldingsChannel reports. The firm owned 411,943 shares of the energy producer’s stock after selling 18,440 shares during the period. Pictet Asset Management Holding SA’s holdings in ConocoPhillips were worth $54,376,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the period. Capital International Investors boosted its position in shares of ConocoPhillips by 5.9% during the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after buying an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares during the period. Franklin Resources Inc. grew its holdings in ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after buying an additional 648,432 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in ConocoPhillips by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after buying an additional 193,401 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.5%

COP opened at $104.33 on Tuesday. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The stock’s fifty day moving average is $116.94 and its 200-day moving average is $112.02. The company has a market capitalization of $127.11 billion, a PE ratio of 17.71, a P/E/G ratio of 1.17 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. On average, equities analysts predict that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Scotiabank increased their price target on ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Citigroup raised their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Mizuho upped their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Finally, Truist Financial set a $128.00 target price on shares of ConocoPhillips in a research report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.04.

ConocoPhillips Company Profile

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.