MetLife Investment Management LLC Has $31.83 Million Holdings in ConocoPhillips (NYSE:COP)

MetLife Investment Management LLC lessened its position in ConocoPhillips (NYSE:COP) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 307,188 shares of the energy producer’s stock after selling 8,673 shares during the period. MetLife Investment Management LLC’s holdings in ConocoPhillips were worth $31,828,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in COP. Northwest Bank & Trust Co purchased a new position in ConocoPhillips in the second quarter worth $29,000. Fairfield Bush & CO. purchased a new stake in ConocoPhillips during the 1st quarter worth about $31,000. Graham Capital Wealth Management LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $359,140,000. Fortis Capital Advisors LLC purchased a new stake in ConocoPhillips during the 4th quarter worth about $43,000. Finally, HHM Wealth Advisors LLC lifted its holdings in ConocoPhillips by 91.4% during the 1st quarter. HHM Wealth Advisors LLC now owns 402 shares of the energy producer’s stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

ConocoPhillips Stock Performance

COP traded up $1.33 during midday trading on Monday, hitting $115.92. 1,230,477 shares of the company traded hands, compared to its average volume of 5,680,458. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $137.64 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. The company’s 50-day moving average is $119.68 and its 200 day moving average is $112.53. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $130.55.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 14th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $2.32 annualized dividend and a yield of 2.00%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.51. ConocoPhillips’s dividend payout ratio is currently 25.36%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial raised their price target on ConocoPhillips from $151.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 18th. Mizuho lifted their price target on shares of ConocoPhillips from $135.00 to $139.00 and gave the stock a “neutral” rating in a research note on Monday, September 18th. StockNews.com began coverage on shares of ConocoPhillips in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Susquehanna decreased their price target on shares of ConocoPhillips from $153.00 to $152.00 and set a “positive” rating on the stock in a research note on Wednesday, October 18th. Finally, Johnson Rice began coverage on shares of ConocoPhillips in a research note on Tuesday, November 14th. They set an “accumulate” rating and a $135.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.35.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Sharmila Mulligan sold 1,849 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $125.19, for a total value of $231,476.31. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Ryan Michael Lance sold 569,400 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the transaction, the chief executive officer now owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sharmila Mulligan sold 1,849 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $125.19, for a total transaction of $231,476.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 646,049 shares of company stock worth $78,636,116. Company insiders own 0.37% of the company’s stock.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.