5,637 ConocoPhillips $COP Shares Acquired by Byrne Asset Management LLC

Byrne Asset Management LLC boosted its position in ConocoPhillips (NYSE:COP) by 58.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,236 shares of the energy producer’s stock after buying an additional 5,637 shares during the quarter. ConocoPhillips makes up about 1.0% of Byrne Asset Management LLC’s portfolio, making the stock its 19th biggest position. Byrne Asset Management LLC’s holdings in ConocoPhillips were worth $1,907,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of COP. B. Metzler seel. Sohn & Co. AG acquired a new stake in ConocoPhillips in the second quarter valued at $6,896,000. Cetera Trust Company N.A acquired a new stake in ConocoPhillips in the 2nd quarter valued at about $870,000. Nicholas Investment Partners LP acquired a new position in ConocoPhillips during the second quarter worth approximately $6,498,000. Qsemble Capital Management LP acquired a new position in ConocoPhillips during the second quarter worth approximately $3,645,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in ConocoPhillips in the second quarter valued at approximately $1,475,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on COP shares. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Truist Financial upped their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a report on Monday, August 10th. Stifel Nicolaus started coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a “hold” rating and a $148.00 target price for the company. Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Argus raised their price objective on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Price Performance

COP stock traded up $1.58 during mid-day trading on Tuesday, hitting $129.98. The stock had a trading volume of 1,662,785 shares, compared to its average volume of 8,140,753. The firm has a fifty day simple moving average of $128.54 and a 200 day simple moving average of $121.84. The firm has a market capitalization of $156.15 billion, a P/E ratio of 17.18, a P/E/G ratio of 1.34 and a beta of 0.24. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $141.62.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, research analysts forecast that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s payout ratio is 44.44%.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.