Fifth Third Bancorp Has $35.41 Million Position in ConocoPhillips $COP

Fifth Third Bancorp trimmed its stake in ConocoPhillips (NYSE:COP) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 374,399 shares of the energy producer’s stock after selling 8,863 shares during the quarter. Fifth Third Bancorp’s holdings in ConocoPhillips were worth $35,414,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Howard Hughes Medical Institute bought a new stake in ConocoPhillips in the 2nd quarter valued at about $25,000. Cloud Capital Management LLC acquired a new stake in ConocoPhillips in the third quarter valued at approximately $26,000. Bogart Wealth LLC increased its holdings in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after acquiring an additional 182 shares in the last quarter. Cedar Mountain Advisors LLC increased its holdings in shares of ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. Finally, BNP Paribas acquired a new position in shares of ConocoPhillips during the second quarter worth approximately $33,000. 82.36% of the stock is owned by institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on COP shares. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Piper Sandler lifted their price objective on shares of ConocoPhillips from $108.00 to $111.00 and gave the company an “overweight” rating in a report on Friday, February 6th. JPMorgan Chase & Co. upped their target price on shares of ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. UBS Group reaffirmed a “buy” rating and issued a $130.00 price target on shares of ConocoPhillips in a research report on Monday, February 9th. Finally, Mizuho boosted their price objective on ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Seventeen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.54.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $111.51 on Tuesday. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $112.07. The company’s 50 day moving average price is $98.71 and its two-hundred day moving average price is $94.30. The stock has a market cap of $137.79 billion, a P/E ratio of 17.59 and a beta of 0.32. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, February 18th. ConocoPhillips’s payout ratio is presently 53.00%.

About ConocoPhillips

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.