Morgan Stanley Has $468.42 Million Position in ConocoPhillips (NYSE:COP)

Morgan Stanley raised its stake in shares of ConocoPhillips (NYSE:COP) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,843,086 shares of the energy producer’s stock after buying an additional 1,492,780 shares during the period. Morgan Stanley owned about 0.66% of ConocoPhillips worth $468,419,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COP. LPL Financial LLC boosted its stake in shares of ConocoPhillips by 5.0% during the 4th quarter. LPL Financial LLC now owns 300,059 shares of the energy producer’s stock valued at $11,999,000 after buying an additional 14,272 shares during the period. Stifel Financial Corp lifted its stake in shares of ConocoPhillips by 12.2% in the 4th quarter. Stifel Financial Corp now owns 451,678 shares of the energy producer’s stock valued at $18,062,000 after purchasing an additional 49,290 shares during the last quarter. WealthShield Partners LLC acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $202,000. ExodusPoint Capital Management LP acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $5,915,000. Finally, Janus Henderson Group PLC lifted its stake in shares of ConocoPhillips by 249.7% in the 4th quarter. Janus Henderson Group PLC now owns 955,469 shares of the energy producer’s stock valued at $38,209,000 after purchasing an additional 682,274 shares during the last quarter. 77.55% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on COP shares. Zacks Investment Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Tuesday, April 27th. Credit Suisse Group lifted their target price on shares of ConocoPhillips from $67.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, June 23rd. Citigroup lifted their target price on shares of ConocoPhillips from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Truist Securities lifted their target price on shares of ConocoPhillips from $63.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, July 1st. Finally, Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday, May 5th. Two analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $69.77.

In other ConocoPhillips news, Director Jody Freeman sold 3,334 shares of the business’s stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $59.65, for a total value of $198,873.10. Following the transaction, the director now directly owns 8,251 shares in the company, valued at $492,172.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.08% of the stock is owned by insiders.

Shares of ConocoPhillips stock opened at $57.02 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.88 and a current ratio of 2.03. The company’s 50-day simple moving average is $58.56. ConocoPhillips has a twelve month low of $27.53 and a twelve month high of $63.57. The firm has a market cap of $76.94 billion, a price-to-earnings ratio of -380.11, a P/E/G ratio of 1.90 and a beta of 1.76.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, May 4th. The energy producer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.12. ConocoPhillips had a net margin of 0.08% and a negative return on equity of 1.85%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the previous year, the business earned $0.45 EPS. Sell-side analysts predict that ConocoPhillips will post 4.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 1st. Stockholders of record on Monday, July 26th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 23rd. This represents a $1.72 annualized dividend and a dividend yield of 3.02%. ConocoPhillips’s dividend payout ratio (DPR) is currently -177.32%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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