Renaissance Technologies LLC Purchases 264,600 Shares of ConocoPhillips (NYSE:COP)

Renaissance Technologies LLC grew its position in ConocoPhillips (NYSE:COP) by 42.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 892,608 shares of the energy producer’s stock after purchasing an additional 264,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of ConocoPhillips worth $102,097,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of COP. Sachetta LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new position in shares of ConocoPhillips in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. raised its position in shares of ConocoPhillips by 96.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the period. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Finally, Richardson Capital Management LLC bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on COP. 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 note on Friday, August 2nd. Sanford C. Bernstein lowered their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Mizuho lowered their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Scotiabank lowered their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Stock Up 2.0 %

Shares of NYSE COP opened at $105.56 on Tuesday. The stock has a market cap of $122.58 billion, a PE ratio of 11.95, a PEG ratio of 0.78 and a beta of 1.22. The business has a fifty day moving average of $110.03 and a two-hundred day moving average of $116.69. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $1.84 earnings per share. As a group, equities research analysts expect that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The stock was 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 directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.