Swiss National Bank Decreases Stake in ConocoPhillips (NYSE:COP)

Swiss National Bank lowered its position in ConocoPhillips (NYSE:COP) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,455,915 shares of the energy producer’s stock after selling 27,100 shares during the quarter. Swiss National Bank owned approximately 0.30% of ConocoPhillips worth $363,839,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC lifted its position in shares of ConocoPhillips by 19.1% during the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after buying an additional 4,578 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $30,021,000. Alpha DNA Investment Management LLC lifted its position in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after buying an additional 7,490 shares during the last quarter. TCW Group Inc. increased its holdings in shares of ConocoPhillips by 37.8% in the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after acquiring an additional 8,231 shares during the period. Finally, Doheny Asset Management CA acquired a new position in shares of ConocoPhillips in the 2nd quarter valued at $815,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $112.32 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market cap of $129.27 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The firm’s fifty day simple moving average is $108.01 and its 200-day simple moving average is $111.68.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Ratings Changes

A number of equities analysts have recently commented on COP shares. Mizuho lifted their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial cut their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Barclays lifted their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.63.

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.