Credit Agricole S A Acquires 421,733 Shares of ConocoPhillips $COP

Credit Agricole S A increased its holdings in ConocoPhillips (NYSE:COP) by 111.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 801,429 shares of the energy producer’s stock after purchasing an additional 421,733 shares during the quarter. Credit Agricole S A owned approximately 0.06% of ConocoPhillips worth $84,166,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of COP. 10Elms LLP bought a new stake in shares of ConocoPhillips in the fourth quarter worth $28,000. Financial Network Wealth Advisors LLC lifted its holdings in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after buying an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in ConocoPhillips in the first quarter valued at $31,000. Garde Capital Inc. acquired a new position in ConocoPhillips in the first quarter valued at $35,000. Finally, IMA Advisory Services Inc. acquired a new position in ConocoPhillips in the first quarter valued at $37,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were bought at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Trading Down 1.4%

COP opened at $94.00 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The firm has a market capitalization of $117.40 billion, a PE ratio of 12.62, a P/E/G ratio of 2.48 and a beta of 0.67. The company’s 50-day moving average is $93.73 and its 200 day moving average is $93.32.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter in the prior year, the business posted $1.98 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, August 18th. ConocoPhillips’s dividend payout ratio is currently 41.88%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on COP shares. Mizuho dropped their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. UBS Group boosted their target price on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 11th. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Susquehanna dropped their target price on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a report on Wednesday, July 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $124.00 price objective (up previously from $123.00) on shares of ConocoPhillips in a report on Monday. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $120.89.

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.