ConocoPhillips (NYSE:COP) Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB increased its holdings in shares of ConocoPhillips (NYSE:COP) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,163,724 shares of the energy producer’s stock after acquiring an additional 52,334 shares during the quarter. ConocoPhillips comprises 0.9% of AMF Tjanstepension AB’s investment portfolio, making the stock its 28th biggest position. AMF Tjanstepension AB’s holdings in ConocoPhillips were worth $122,628,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division grew its holdings in ConocoPhillips by 2.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 15,833 shares of the energy producer’s stock valued at $1,667,000 after buying an additional 328 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of ConocoPhillips by 3.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 48,757 shares of the energy producer’s stock valued at $5,133,000 after acquiring an additional 1,783 shares during the last quarter. Cascade Investment Advisors Inc. grew its holdings in shares of ConocoPhillips by 1.5% in the third quarter. Cascade Investment Advisors Inc. now owns 15,200 shares of the energy producer’s stock valued at $1,600,000 after purchasing an additional 225 shares during the period. Mattson Financial Services LLC acquired a new stake in ConocoPhillips during the second quarter worth about $2,142,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in ConocoPhillips by 10.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 202,375 shares of the energy producer’s stock worth $23,148,000 after purchasing an additional 19,268 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $110.36 on Thursday. The business’s 50-day moving average is $108.67 and its two-hundred day moving average is $116.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The firm has a market capitalization of $128.16 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.82 and a beta of 1.22. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. Analysts anticipate that ConocoPhillips will post 8.12 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several analyst reports. UBS Group dropped their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Truist Financial cut their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Scotiabank cut their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $140.69.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by insiders.

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.