Bank of New York Mellon Corp Has $880.24 Million Stock Position in ConocoPhillips $COP

Bank of New York Mellon Corp reduced its holdings in ConocoPhillips (NYSE:COP) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,305,821 shares of the energy producer’s stock after selling 202,783 shares during the period. Bank of New York Mellon Corp’s holdings in ConocoPhillips were worth $880,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Heartland Bank & Trust Co grew its holdings in ConocoPhillips by 97.2% during the 2nd quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock worth $616,000 after acquiring an additional 3,381 shares during the last quarter. Tema Etfs LLC bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $1,804,000. D.A. Davidson & CO. increased its holdings in shares of ConocoPhillips by 12.1% in the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock valued at $13,321,000 after purchasing an additional 15,202 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of ConocoPhillips by 3.2% in the third quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares in the last quarter. Finally, StoneX Group Inc. raised its position in ConocoPhillips by 510.5% in the 2nd quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock worth $2,628,000 after purchasing an additional 24,488 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of COP opened at $101.47 on Thursday. The stock has a market cap of $125.39 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.16 and a beta of 0.32. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $106.20. The stock’s 50-day moving average price is $94.06 and its two-hundred day moving average price is $93.11. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. During the same period last year, the company posted $1.78 EPS. ConocoPhillips’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s payout ratio is 47.52%.

Analyst Ratings Changes

Several research firms have recently commented on COP. Wolfe Research lifted their target price on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $98.00 price target on shares of ConocoPhillips in a report on Tuesday, January 20th. Royal Bank Of Canada lifted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Barclays cut their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Mizuho lifted their price target on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Sixteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.96.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is owned by insiders.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.