Ignite Planners LLC Grows Stock Position in ConocoPhillips (NYSE:COP)

Ignite Planners LLC boosted its stake in shares of ConocoPhillips (NYSE:COPGet Rating) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,681 shares of the energy producer’s stock after purchasing an additional 184 shares during the quarter. ConocoPhillips comprises 0.9% of Ignite Planners LLC’s holdings, making the stock its 24th largest holding. Ignite Planners LLC’s holdings in ConocoPhillips were worth $1,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of ConocoPhillips by 62.4% during the 1st quarter. Capital World Investors now owns 23,463,085 shares of the energy producer’s stock worth $2,346,309,000 after buying an additional 9,014,700 shares in the last quarter. Diamond Hill Capital Management Inc. acquired a new position in ConocoPhillips in the first quarter valued at approximately $702,569,000. BlackRock Inc. boosted its position in shares of ConocoPhillips by 3.4% during the fourth quarter. BlackRock Inc. now owns 111,073,845 shares of the energy producer’s stock worth $8,017,310,000 after buying an additional 3,652,817 shares during the period. Capital Research Global Investors increased its holdings in shares of ConocoPhillips by 28.2% in the first quarter. Capital Research Global Investors now owns 12,335,053 shares of the energy producer’s stock valued at $1,233,506,000 after buying an additional 2,715,820 shares in the last quarter. Finally, Cowa LLC grew its holdings in shares of ConocoPhillips by 6,475.2% during the 1st quarter. Cowa LLC now owns 2,375,224 shares of the energy producer’s stock valued at $2,383,000 after acquiring an additional 2,339,100 shares in the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 10,950 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $116.52, for a total transaction of $1,275,894.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on COP shares. Truist Financial dropped their price target on shares of ConocoPhillips from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. MKM Partners raised their price objective on shares of ConocoPhillips from $110.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, August 26th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. Morgan Stanley upped their price objective on shares of ConocoPhillips from $117.00 to $118.00 and gave the stock an “overweight” rating in a research report on Monday, August 29th. Finally, Piper Sandler upped their price objective on shares of ConocoPhillips from $123.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $121.79.

ConocoPhillips Trading Down 7.9 %

Shares of NYSE COP traded down $8.71 during mid-day trading on Friday, hitting $101.35. The stock had a trading volume of 360,010 shares, compared to its average volume of 6,914,243. The firm has a market cap of $131.09 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 0.39 and a beta of 1.31. The business has a 50 day moving average price of $102.42 and a two-hundred day moving average price of $101.24. ConocoPhillips has a 1 year low of $62.25 and a 1 year high of $124.08. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.44 and a current ratio of 1.54.

ConocoPhillips (NYSE:COPGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The energy producer reported $3.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.95 by ($0.04). ConocoPhillips had a return on equity of 31.24% and a net margin of 23.10%. During the same quarter in the prior year, the firm posted $1.27 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 14.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a None dividend, which was paid on Thursday, September 1st. Investors of record on Tuesday, August 16th were paid a $1.40 dividend. The ex-dividend date of this dividend was Thursday, September 29th. ConocoPhillips’s dividend payout ratio (DPR) is presently 15.19%.

ConocoPhillips Profile

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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. It primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations. 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 conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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