Ensign Peak Advisors Inc Sells 18,779 Shares of ConocoPhillips (NYSE:COP)

Ensign Peak Advisors Inc cut its holdings in shares of ConocoPhillips (NYSE:COP) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,514,694 shares of the energy producer’s stock after selling 18,779 shares during the quarter. Ensign Peak Advisors Inc owned about 0.22% of ConocoPhillips worth $287,631,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COP. Gilbert & Cook Inc. boosted its holdings in shares of ConocoPhillips by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock worth $1,560,000 after buying an additional 483 shares during the period. Aigen Investment Management LP grew its position in shares of ConocoPhillips by 3.0% in the fourth quarter. Aigen Investment Management LP now owns 3,612 shares of the energy producer’s stock valued at $419,000 after purchasing an additional 104 shares during the last quarter. SageView Advisory Group LLC increased its stake in shares of ConocoPhillips by 196.5% during the fourth quarter. SageView Advisory Group LLC now owns 9,846 shares of the energy producer’s stock worth $1,123,000 after purchasing an additional 6,525 shares during the period. TCW Group Inc. bought a new position in shares of ConocoPhillips during the fourth quarter worth approximately $2,715,000. Finally, Avantax Planning Partners Inc. lifted its holdings in ConocoPhillips by 2.1% during the 4th quarter. Avantax Planning Partners Inc. now owns 8,454 shares of the energy producer’s stock worth $981,000 after purchasing an additional 172 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company lowered their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Raymond James reiterated a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Finally, Truist Financial reduced their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $142.29.

ConocoPhillips Price Performance

COP stock opened at $110.08 on Friday. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. 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 stock has a market cap of $127.83 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.80 and a beta of 1.22. The company has a 50 day simple moving average of $109.76 and a 200 day simple moving average of $116.53.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

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

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips 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.