Mediolanum International Funds Ltd Has $57.35 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Mediolanum International Funds Ltd lifted its position in ConocoPhillips (NYSE:COP) by 23.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 560,208 shares of the energy producer’s stock after purchasing an additional 104,984 shares during the quarter. ConocoPhillips accounts for approximately 0.8% of Mediolanum International Funds Ltd’s holdings, making the stock its 24th biggest holding. Mediolanum International Funds Ltd’s holdings in ConocoPhillips were worth $57,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in COP. Second Line Capital LLC boosted its holdings in shares of ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock worth $495,000 after acquiring an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its position in ConocoPhillips by 1.6% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer’s stock valued at $703,000 after purchasing an additional 110 shares during the last quarter. LRI Investments LLC boosted its stake in ConocoPhillips by 3.6% in the fourth quarter. LRI Investments LLC now owns 3,184 shares of the energy producer’s stock worth $316,000 after purchasing an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of ConocoPhillips by 3.9% during the first quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock worth $334,000 after purchasing an additional 118 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in shares of ConocoPhillips by 29.3% during the fourth quarter. Zions Bancorporation N.A. now owns 529 shares of the energy producer’s stock worth $52,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.7%

NYSE COP opened at $94.96 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The stock has a 50-day simple moving average of $91.14 and a 200 day simple moving average of $94.38. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $120.04 billion, a PE ratio of 12.07, a P/E/G ratio of 2.49 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The company had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same period in the prior year, the business posted $2.05 EPS. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson purchased 5,300 shares of ConocoPhillips stock in a transaction dated Monday, June 16th. The shares were bought at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This trade represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a report on Tuesday, July 15th. Bank of America lowered their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Raymond James Financial upped their target price on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday. Susquehanna lowered their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Royal Bank Of Canada dropped their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating for the company in a research report on Friday, July 11th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $121.33.

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.