Robeco Institutional Asset Management B.V. Lowers Position in ConocoPhillips (NYSE:COP)

Robeco Institutional Asset Management B.V. decreased its position in ConocoPhillips (NYSE:COP – Get Rating) by 14.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268,600 shares of the energy producer’s stock after selling 43,754 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in ConocoPhillips were worth $27,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Bush & CO. purchased a new stake in ConocoPhillips during the first quarter worth about $31,000. Cetera Investment Advisers boosted its holdings in ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after buying an additional 968 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in ConocoPhillips by 1.9% during the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after buying an additional 9,313 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings in ConocoPhillips by 59.1% during the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in ConocoPhillips by 21.3% during the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after buying an additional 2,465 shares in the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of a number of research reports. Truist Financial lifted their target price on shares of ConocoPhillips from $148.00 to $151.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. StockNews.com initiated coverage on shares of ConocoPhillips in a research report on Thursday. They set a “hold” rating for the company. Capital One Financial cut shares of ConocoPhillips from an “overweight” rating to an “equal weight” rating and set a $102.00 target price for the company. in a research report on Friday, February 3rd. Piper Sandler lifted their target price on shares of ConocoPhillips from $155.00 to $157.00 and gave the stock an “overweight” rating in a research report on Monday, December 19th. Finally, Roth Capital restated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, February 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and one has 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 $136.86.

ConocoPhillips Stock Performance

Shares of COP stock opened at $96.40 on Friday. ConocoPhillips has a one year low of $78.30 and a one year high of $138.49. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.36 and a current ratio of 1.46. The company has a 50 day moving average price of $111.85 and a 200 day moving average price of $115.83. The firm has a market capitalization of $117.49 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.51 and a beta of 1.29.

ConocoPhillips (NYSE:COP – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The energy producer reported $2.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.72 by ($0.01). ConocoPhillips had a return on equity of 35.30% and a net margin of 22.74%. The business had revenue of $19.26 billion for the quarter, compared to analysts’ expectations of $18.16 billion. During the same quarter in the prior year, the firm earned $2.27 earnings per share. ConocoPhillips’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 11.79 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 29th will be paid a dividend of $0.51 per share. The ex-dividend date is Tuesday, March 28th. This represents a $2.04 annualized dividend and a yield of 2.12%. ConocoPhillips’s dividend payout ratio is currently 14.06%.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker acquired 4,800 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was bought at an average cost of $103.00 per share, for a total transaction of $494,400.00. Following the completion of the purchase, the director now directly owns 27,600 shares in the company, valued at $2,842,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by insiders.

About ConocoPhillips

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ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.