J. Safra Sarasin Holding AG Sells 452 Shares of ConocoPhillips (NYSE:COP)

J. Safra Sarasin Holding AG decreased its position in shares of ConocoPhillips (NYSE:COP) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,696 shares of the energy producer’s stock after selling 452 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in ConocoPhillips were worth $703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after acquiring an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after buying an additional 8,189 shares in the last quarter. Schwartz Investment Counsel Inc. lifted its stake in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after buying an additional 30,000 shares in the last quarter. ORG Wealth Partners LLC lifted its stake in ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after buying an additional 5,922 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after buying an additional 54,900 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Activity at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm’s stock in a transaction on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. UBS Group lifted their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Bank of America cut their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Mizuho cut their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Scotiabank lifted their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday, July 11th. Finally, Raymond James Financial boosted their price objective on shares of ConocoPhillips from $109.00 to $117.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $121.33.

ConocoPhillips Price Performance

Shares of COP opened at $92.82 on Tuesday. The company has a market cap of $117.34 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.41 and a beta of 0.67. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company’s fifty day simple moving average is $92.12 and its 200 day simple moving average is $93.90. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.04. The business had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the previous year, the company earned $2.05 earnings per share. On average, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

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.