KBC Group NV Increases Position in ConocoPhillips (NYSE:COP)

KBC Group NV lifted its position in shares of ConocoPhillips (NYSE:COP) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 390,401 shares of the energy producer’s stock after purchasing an additional 54,526 shares during the period. KBC Group NV’s holdings in ConocoPhillips were worth $41,101,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EP Wealth Advisors LLC boosted 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 acquiring an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in ConocoPhillips during the second quarter worth approximately $30,021,000. Alpha DNA Investment Management LLC boosted its holdings in ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after purchasing an additional 7,490 shares in the last quarter. TCW Group Inc. increased its stake in ConocoPhillips by 37.8% in the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer’s stock valued at $3,434,000 after purchasing an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA acquired a new stake in ConocoPhillips during the second quarter worth approximately $815,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $112.92 on Friday. The stock has a market capitalization of $129.96 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company’s fifty day moving average is $107.77 and its two-hundred day moving average is $111.90.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.16 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Ratings Changes

Several research analysts have recently issued reports on COP shares. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays raised their price objective on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a report on Friday, September 13th. Finally, Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.63.

ConocoPhillips 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.