ConocoPhillips (NYSE:COP) Shares Purchased by Unigestion Holding SA

Unigestion Holding SA boosted its position in shares of ConocoPhillips (NYSE:COP) by 1.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 225,307 shares of the energy producer’s stock after acquiring an additional 2,378 shares during the quarter. Unigestion Holding SA’s holdings in ConocoPhillips were worth $23,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of ConocoPhillips by 19.0% in the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP grew its position in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC increased its stake in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock valued at $2,601,639,000 after purchasing an additional 924,289 shares during the period. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of ConocoPhillips by 4.6% during the second quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after buying an additional 438,241 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $102.40 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $117.85 billion, a PE ratio of 12.18, a P/E/G ratio of 0.85 and a beta of 1.18. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The stock has a fifty day moving average price of $108.57 and a 200 day moving average price of $110.07.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.16 EPS. Sell-side analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.05%. ConocoPhillips’s dividend payout ratio is currently 37.10%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COP shares. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group decreased their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Truist Financial reduced their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.18.

ConocoPhillips Profile

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.