Capital Research & Management Co recently announced the acquisition of new stake in Conoco Phillips (NYSE:COP). The institutional investor has increased its shareholding in the Energy company by 0.96% to 26.21 million shares with purchase of 0.25 million shares. This fresh investment now brings its stake to 2.21% valued currently at $3.04 billion. In addition, Geode Capital Management LLC raised its holdings by 0.21 million to 22.96 million shares.
Currently, there are 1.22B common shares owned by the public and among those 1.19B shares have been available to trade.
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Insiders at the company have transacted a total of 61 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 1,232,219 shares. Insider sales of the common stock occurred on 34 occasions, with total insider shares sold totaling 1,236,653 shares.
The top 3 mutual fund holders in Conoco Phillips are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR Series – Energy Select Secto. Vanguard Total Stock Market ETF owns 37.28 million shares of the company’s stock, all valued at over $4.33 billion. The company sold -0.26 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.19 million shares to see its total holdings shrink to 29.0 million shares valued at over $3.37 billion and representing 2.44% of the shares outstanding. SPDR Series – Energy Select Secto bought 0.11 million shares to bring its total holdings to over 28.62 million shares at a value of $3.32 billion. SPDR Series – Energy Select Secto now owns shares totaling to 2.41% of the shares outstanding.
However, the script later moved the day high at 109.42, down -0.06%. The company’s stock has a 5-day price change of -0.60% and -12.95% over the past three months. COP shares are trading -6.96% year to date (YTD), with the 12-month market performance down to -9.80% lower. It has a 12-month low price of $89.98 and touched a high of $127.35 over the same period. COP has an average intraday trading volume of 5.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.08%, -5.29%, and -3.20% respectively.
Institutional ownership of Conoco Phillips (NYSE: COP) shares accounts for 82.81% of the company’s 1.22B shares outstanding. Mutual fund holders own 33.34%, while other institutional holders and individual stakeholders account for 49.79% and 0.46% respectively.
It has a market capitalization of $128.23B and a beta (3y monthly) value of 1.24. The stock’s trailing 12-month PE ratio is 11.80, while the earnings-per-share (ttm) stands at $9.15. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.63% over the week and 1.82% over the month.
Analysts forecast that Conoco Phillips (COP) will achieve an EPS of $2.09 for the current quarter, $2.07 for the next quarter and $9.09 for 2024. The lowest estimate earnings-per-share for the quarter is $1.89 while analysts give the company a high EPS estimate of $2.48. Comparatively, EPS for the current quarter was $2.71 a year ago. Earnings per share for the fiscal year are expected to decrease by -36.71%, and 5.55% over the next financial year.
