Hsbc Holdings PLC Has $280.19 Million Stock Position in ConocoPhillips $COP

Hsbc Holdings PLC raised its position in ConocoPhillips (NYSE:COP) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,992,999 shares of the energy producer’s stock after purchasing an additional 207,459 shares during the quarter. Hsbc Holdings PLC owned approximately 0.24% of ConocoPhillips worth $280,192,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after acquiring an additional 298,245 shares during the last quarter. Natixis Advisors LLC lifted its holdings in ConocoPhillips by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after purchasing an additional 20,501 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new stake in ConocoPhillips during the third quarter worth approximately $1,892,000. Finally, D.A. Davidson & CO. boosted its position in ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after purchasing an additional 14,833 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at $685,488.70. This represents a 56.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 127,915 shares of company stock worth $16,915,448 in the last ninety days. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $107.92 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $118.65 and its two-hundred day moving average is $111.25. The company has a market cap of $131.48 billion, a P/E ratio of 18.32, a P/E/G ratio of 1.19 and a beta of 0.11. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company earned $2.09 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, equities analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Analyst Ratings Changes

COP has been the topic of several analyst reports. BMO Capital Markets lowered their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a report on Friday, May 1st. UBS Group raised their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Citigroup lifted their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Seventeen research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Profile

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.