Eurizon Capital SGR S.p.A. Takes $128.47 Million Position in ConocoPhillips $COP

Eurizon Capital SGR S.p.A. bought a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, HoldingsChannel.com reports. The firm bought 1,371,514 shares of the energy producer’s stock, valued at approximately $128,470,000.

Several other institutional investors have also made changes to their positions in COP. Cloud Capital Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $28,000. Strive Asset Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the transaction, the senior vice president directly owned 32,984 shares of the company’s stock, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 506,800 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares of the company’s stock, valued at approximately $869,822.10. This represents a 98.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 734,891 shares of company stock valued at $93,345,692. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on COP shares. Morgan Stanley lifted their target price on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Truist Financial set a $128.00 target price on shares of ConocoPhillips in a research report on Friday, May 1st. Citigroup lifted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. The Goldman Sachs Group lifted their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Roth Mkm downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price target for the company. in a report on Tuesday, February 17th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.60.

ConocoPhillips Trading Down 0.8%

Shares of COP stock opened at $114.01 on Friday. ConocoPhillips has a 12-month low of $84.33 and a 12-month high of $135.87. The company has a market capitalization of $138.90 billion, a P/E ratio of 19.36, a P/E/G ratio of 1.29 and a beta of 0.14. The firm has a 50-day moving average price of $123.09 and a 200 day moving average price of $108.46. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the firm posted $2.09 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts forecast that ConocoPhillips will post 9.92 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s payout ratio is currently 57.05%.

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.