Mutual of America Capital Management LLC Acquires 12,798 Shares of ConocoPhillips (NYSE:COP)

Mutual of America Capital Management LLC lifted its holdings in ConocoPhillips (NYSE:COP) by 7.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,914 shares of the energy producer’s stock after acquiring an additional 12,798 shares during the period. Mutual of America Capital Management LLC’s holdings in ConocoPhillips were worth $20,579,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares in the last quarter. Capital International Investors lifted its position in shares of ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after buying an additional 1,856,085 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of ConocoPhillips by 5.8% in the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after buying an additional 826,529 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of ConocoPhillips by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock worth $860,398,000 after buying an additional 191,519 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in shares of ConocoPhillips by 3.6% in the fourth quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock worth $705,594,000 after buying an additional 211,257 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $108.30 on Wednesday. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a market capitalization of $125.76 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 0.78 and a beta of 1.22. The stock has a fifty day simple moving average of $109.97 and a two-hundred day simple moving average of $116.64. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, analysts predict that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COP. Susquehanna decreased their target price on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Truist Financial decreased their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. UBS Group upped their price objective on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Mizuho decreased their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $143.06.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

About ConocoPhillips

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.