1,902 Shares in ConocoPhillips (NYSE:COP) Purchased by Alerus Financial NA

Posted by on Jun 13th, 2023

Alerus Financial NA acquired a new position in shares of ConocoPhillips (NYSE:COP – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,902 shares of the energy producer’s stock, valued at approximately $224,000.

A number of other institutional investors also recently modified their holdings of COP. Fairfield Bush & CO. bought a new position in shares of ConocoPhillips in the first quarter valued at approximately $31,000. Cetera Investment Advisers raised its position in ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares during the last quarter. Baird Financial Group Inc. raised its position in ConocoPhillips by 1.9% in the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after purchasing an additional 9,313 shares during the last quarter. Zions Bancorporation N.A. raised its position in ConocoPhillips by 59.1% in the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after purchasing an additional 672 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in ConocoPhillips by 21.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after purchasing an additional 2,465 shares during the last quarter. Institutional investors own 81.76% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $102.83 on Tuesday. The firm has a market cap of $124.43 billion, a PE ratio of 8.23, a PEG ratio of 0.57 and a beta of 1.31. The company has a current ratio of 1.39, a quick ratio of 1.29 and a debt-to-equity ratio of 0.32. ConocoPhillips has a 1-year low of $78.30 and a 1-year high of $138.49. The company has a fifty day moving average price of $102.72 and a 200 day moving average price of $108.48.

ConocoPhillips (NYSE:COP – Get Rating) last announced its earnings results on Thursday, May 4th. The energy producer reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.36. The firm had revenue of $15.52 billion during the quarter, compared to analyst estimates of $16.06 billion. ConocoPhillips had a net margin of 20.21% and a return on equity of 32.75%. The company’s revenue for the quarter was down 19.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS. Research analysts predict that ConocoPhillips will post 10.05 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Tuesday, May 16th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Monday, June 26th. ConocoPhillips’s payout ratio is presently 16.32%.

Insider Buying and Selling

In other ConocoPhillips news, Director Caroline Maury Devine sold 1,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $102.08, for a total transaction of $102,080.00. Following the sale, the director now directly owns 849 shares of the company’s stock, valued at approximately $86,665.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of several research analyst reports. Barclays dropped their price objective on shares of ConocoPhillips from $160.00 to $141.00 in a research report on Thursday, March 23rd. Piper Sandler boosted their price objective on shares of ConocoPhillips from $140.00 to $149.00 in a research report on Thursday, May 18th. Truist Financial boosted their price objective on shares of ConocoPhillips from $151.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. UBS Group initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 19th. They set a “buy” rating and a $139.00 target price for the company. Finally, Societe Generale upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating and set a $105.00 target price for the company in a research report on Wednesday, April 5th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.58.

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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