Diversified Trust Co showed a vote of confidence in ConocoPhillips (NYSE:COP) during the 1st quarter of 2023, raising its stake by 31.2%. The institutional investor acquired an additional 4,045 shares of the energy producer’s stock, bringing its total holdings to 16,991 shares. Based on the most recent SEC filing, those holdings now amount to $1,686,000. This move by Diversified Trust Co is significant and could indicate positive sentiment towards ConocoPhillips from one of its key investors.
The energy producer also recently declared a quarterly dividend that was distributed on Thursday, June 1st to shareholders of record as of Tuesday, May 16th. The dividend amounted to $0.51 per share which translates into an annualized dividend payout of $2.04 with a dividend yield of 1.94%. These numbers are enviable by any standards but indicate that ConocoPhillips is committed to returning value to its shareholders while maintaining reasonable payout ratios – which currently stand at just over 16%.
It should be noted that the ex-dividend date for this quarter’s dividend was Monday, June 26th- meaning if anyone had bought the stock after this date they would not be eligible for this payment. Thus investors looking forward to buying COP shares should keep this in mind.
On the other hand Director Caroline Maury Devine recently sold her shares at an average price of $102.08 each amounting to $102k approx keeping only around eighty-five thousand dollars worth of COP stock afterwards with them.
In conclusion whilst Director Caroline Maury Devine has reduced their investment in ConocoPhillips by selling some shares Diversified Trust Co appears confident about investing more into COP: we advise readers interested in stocks offering dividends and stability should look into how much further Diversified Trust Co is willing to expand their position when it comes to this popular investment.
ConocoPhillips: Surge in Institutional Investors Indicates Stability, But What Lies Ahead?
ConocoPhillips Sees a Surge in Institutional Investors
The American multinational energy corporation, ConocoPhillips (NYSE:COP), has seen a surge in institutional investors in the last quarter. It is now reported that 80.2% of the company’s stock is held by institutions. Companies such as Vanguard Group Inc and Price T Rowe Associates have recently bought up shares of the energy producer’s stock, edging toward owning nearly 100 million shares collectively.
This news might be seen as positive for those who believe institutional investors bring more stability to the market than retail investors. However, what consequences this will have for the industry itself is yet to be seen.
A series of equities research analysts have also been following ConocoPhillips’ developments closely over the past few months with several rating it as a moderate “buy”. Piper Sandler lowered its target price on ConocoPhillips from $149.00 to $125.00 while Societe Generale upgraded ConocoPhillips from “sell” to “hold”, giving it a target price of $105.00.
ConocoPhillips recently issued its quarterly dividend, which was paid on Thursday, June 1st to shareholders recorded on Tuesday, May 16th at $0.51 per share – an annualized dividend of $2.04 with a dividend yield of 1.94%. With shares currently sitting at around $104 and having had a relatively stable year, some analysts see potential growth opportunities for those willing to invest.
While institutional investment may lead to stability, given all the uncertainty that comes along with investing one can never be too sure what lies ahead- whether that is for individual companies or the industry as a whole.
With all eyes focused firmly on oil prices and geopolitical tensions there are both risks and opportunities in equal measure for this important sector going forward; only time will tell how these investments will come out- beneficiaries or losers?