Alaethes Wealth LLC Has $1.81 Million Stock Position in ConocoPhillips (NYSE:COP)

Alaethes Wealth LLC boosted its holdings in ConocoPhillips (NYSE:COP) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,800 shares of the energy producer’s stock after buying an additional 199 shares during the period. Alaethes Wealth LLC’s holdings in ConocoPhillips were worth $1,807,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in ConocoPhillips by 512.8% in 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 valued at $433,757,000 after acquiring an additional 3,127,165 shares in the last quarter. Capital International Investors raised its holdings in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after acquiring an additional 1,015,158 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of ConocoPhillips by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock valued at $1,907,542,000 after purchasing an additional 826,529 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the topic of several recent research reports. UBS Group decreased their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays raised their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wolfe Research began coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Truist Financial dropped their target price on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, Scotiabank reduced their price target on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $142.29.

ConocoPhillips Stock Down 0.4 %

Shares of NYSE:COP opened at $110.08 on Friday. The company has a 50 day moving average price of $109.76 and a two-hundred day moving average price of $116.53. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The company has a market capitalization of $127.83 billion, a PE ratio of 12.47, a PEG ratio of 0.80 and a beta of 1.22. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.84 EPS. Analysts forecast that ConocoPhillips will post 8.41 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Company 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.