Braun Stacey Associates Inc. Has $25.11 Million Stock Position in ConocoPhillips $COP

Braun Stacey Associates Inc. lifted its position in ConocoPhillips (NYSE:COP) by 10.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 190,268 shares of the energy producer’s stock after buying an additional 18,203 shares during the quarter. Braun Stacey Associates Inc.’s holdings in ConocoPhillips were worth $25,115,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Capital International Investors lifted its position in shares of ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares in the last quarter. AQR Capital Management LLC grew its position in ConocoPhillips by 229.2% during the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer’s stock worth $336,544,000 after purchasing an additional 2,503,156 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Ameriprise Financial Inc. raised its stake in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after purchasing an additional 2,216,010 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in ConocoPhillips during the 3rd quarter valued at $135,265,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Argus raised their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Citigroup upped their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Susquehanna increased their price objective on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Truist Financial set a $128.00 price objective on ConocoPhillips in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.04.

ConocoPhillips Stock Down 0.7%

COP stock opened at $105.63 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. 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 company has a market cap of $128.69 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.17 and a beta of 0.11. The company has a 50 day moving average of $117.29 and a two-hundred day moving average of $111.81.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 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 business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the previous year, the company posted $2.09 EPS. ConocoPhillips’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Company 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.