Gamco Investors INC. ET AL Sells 1,500 Shares of ConocoPhillips (NYSE:COP)

Gamco Investors INC. ET AL cut its holdings in shares of ConocoPhillips (NYSE:COP) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,255 shares of the energy producer’s stock after selling 1,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in ConocoPhillips were worth $7,160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Price T Rowe Associates Inc. MD lifted its position in ConocoPhillips by 24.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after buying an additional 4,726,952 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of ConocoPhillips by 512.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock worth $433,757,000 after purchasing an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd increased its stake in shares of ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock worth $535,287,000 after purchasing an additional 2,023,263 shares during the last quarter. Capital International Investors increased its stake in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of ConocoPhillips by 3,931.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,455,878 shares of the energy producer’s stock worth $185,304,000 after purchasing an additional 1,419,764 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $0.17 on Friday, reaching $110.86. 5,199,044 shares of the company’s stock were exchanged, compared to its average volume of 4,714,127. The company has a fifty day moving average of $113.75 and a 200-day moving average of $117.16. ConocoPhillips has a twelve month low of $105.77 and a twelve month high of $135.18. The company has a market capitalization of $129.65 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.19 and a beta of 1.23. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. On average, research analysts predict that ConocoPhillips will post 8.73 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COP. Royal Bank of Canada boosted their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Barclays boosted their price objective on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Scotiabank lowered their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a research note on Friday, June 14th. Finally, Truist Financial decreased their price target on shares of ConocoPhillips from $165.00 to $147.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

About ConocoPhillips

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.