ConocoPhillips (NYSE:COP) Shares Sold by Swedbank AB

Swedbank AB cut its position in ConocoPhillips (NYSE:COP) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 488,653 shares of the energy producer’s stock after selling 33,781 shares during the quarter. Swedbank AB’s holdings in ConocoPhillips were worth $55,892,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Home Federal Bank of Tennessee grew its position in shares of ConocoPhillips by 1.0% in the 2nd quarter. Home Federal Bank of Tennessee now owns 13,123 shares of the energy producer’s stock valued at $1,501,000 after buying an additional 130 shares during the last quarter. Mcdonald Partners LLC grew its position in shares of ConocoPhillips by 1.7% in the 2nd quarter. Mcdonald Partners LLC now owns 18,792 shares of the energy producer’s stock valued at $2,149,000 after buying an additional 311 shares during the last quarter. Montecito Bank & Trust grew its position in shares of ConocoPhillips by 2.7% in the 2nd quarter. Montecito Bank & Trust now owns 11,957 shares of the energy producer’s stock valued at $1,368,000 after buying an additional 316 shares during the last quarter. J.Safra Asset Management Corp grew its position in shares of ConocoPhillips by 38.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 1,732 shares of the energy producer’s stock valued at $198,000 after buying an additional 481 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its position in shares of ConocoPhillips by 41.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 445 shares of the energy producer’s stock valued at $51,000 after buying an additional 130 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.0 %

Shares of NYSE COP opened at $111.18 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The firm has a 50-day moving average price of $111.56 and a 200 day moving average price of $116.98. The stock has a market capitalization of $129.11 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 2.16 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter last year, the business earned $1.84 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 8.68 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Truist Financial lowered their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Bank of America reissued a “buy” rating and set a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Royal Bank of Canada raised their price objective on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.53.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.