Nykredit A S Invests $15.98 Million in ConocoPhillips $COP

Nykredit A S purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 153,704 shares of the energy producer’s stock, valued at approximately $15,979,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Tranquilli Financial Advisor LLC grew its position in shares of ConocoPhillips by 1.6% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 6,858 shares of the energy producer’s stock worth $713,000 after buying an additional 109 shares during the period. Symphony Financial Ltd. Co. lifted its position in ConocoPhillips by 12.5% during the 2nd quarter. Symphony Financial Ltd. Co. now owns 6,662 shares of the energy producer’s stock valued at $694,000 after acquiring an additional 739 shares during the period. Proficio Capital Partners LLC bought a new stake in ConocoPhillips during the second quarter worth about $1,830,000. Community Bank & Trust Waco Texas increased its stake in shares of ConocoPhillips by 0.8% during the second quarter. Community Bank & Trust Waco Texas now owns 19,399 shares of the energy producer’s stock valued at $2,017,000 after purchasing an additional 159 shares in the last quarter. Finally, Senator Investment Group LP lifted its holdings in shares of ConocoPhillips by 145.8% during the second quarter. Senator Investment Group LP now owns 538,290 shares of the energy producer’s stock valued at $55,961,000 after purchasing an additional 319,328 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $134.23 on Friday. The company has a market capitalization of $161.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 1.43 and a beta of 0.13. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock’s 50-day simple moving average is $120.15 and its 200-day simple moving average is $119.44. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $137.42.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter last year, the company earned $1.42 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Truist Financial boosted their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 6th. Capital One Financial lowered their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Finally, Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.29.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

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.