Versor Investments LP Raises Stake in ConocoPhillips (NYSE:COP)

ConocoPhillips logo Versor Investments LP increased its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 54.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,103 shares of the energy producer’s stock after purchasing an additional 2,863 shares during the period. Versor Investments LP’s holdings in ConocoPhillips were worth $804,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in COP. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips during the 1st quarter valued at about $31,000. Cetera Investment Advisers raised its holdings in shares of ConocoPhillips by 4.0% during the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock valued at $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. raised its holdings in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in shares of ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after buying an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of analyst reports. UBS Group initiated coverage on ConocoPhillips in a research note on Wednesday, April 19th. They issued a “buy” rating and a $139.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $124.00 price target on shares of ConocoPhillips in a research note on Wednesday, July 19th. Bank of America lifted their price target on ConocoPhillips from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 13th. Truist Financial lifted their price target on ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup dropped their target price on ConocoPhillips from $145.00 to $140.00 in a report on Wednesday, July 12th. Five investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.40.

ConocoPhillips Stock Performance

Shares of COP opened at $113.78 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $106.53 and a two-hundred day simple moving average of $106.10. The stock has a market cap of $137.68 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 0.72 and a beta of 1.31. ConocoPhillips has a 52 week low of $88.00 and a 52 week high of $138.49.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same quarter in the previous year, the company earned $3.91 EPS. On average, analysts expect that ConocoPhillips will post 8.84 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 16th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Tuesday, August 15th. ConocoPhillips’s payout ratio is 19.65%.

Insiders Place Their Bets

In other news, Director Caroline Maury Devine sold 1,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $102.08, for a total value of $102,080.00. Following the completion of the transaction, the director now owns 849 shares of the company’s stock, valued at $86,665.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.37% of the company’s stock.

ConocoPhillips Company Profile

(Free Report)

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States and internationally. The company’s portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.