DNB Asset Management AS boosted its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 5.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 392,417 shares of the energy producer’s stock after purchasing an additional 21,598 shares during the quarter. DNB Asset Management AS’s holdings in ConocoPhillips were worth $36,734,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in ConocoPhillips during the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp acquired a new position in ConocoPhillips in the third quarter valued at approximately $28,000. Board of the Pension Protection Fund purchased a new stake in ConocoPhillips in the 4th quarter worth approximately $28,000. Strive Asset Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter worth approximately $28,000. Finally, BNP Paribas acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.
ConocoPhillips Price Performance
Shares of NYSE COP opened at $122.36 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $123.07 and a 200-day simple moving average of $106.25. ConocoPhillips has a 52 week low of $84.28 and a 52 week high of $135.87. The stock has a market capitalization of $149.07 billion, a price-to-earnings ratio of 20.77, a price-to-earnings-growth ratio of 1.37 and a beta of 0.14.
ConocoPhillips Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.
Analysts Set New Price Targets
Several research firms have recently weighed in on COP. Jefferies Financial Group lifted their target price on shares of ConocoPhillips from $129.00 to $160.00 and gave the company a “buy” rating in a report on Monday, April 13th. Scotiabank increased their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. BMO Capital Markets dropped their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $132.00 to $133.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Finally, Truist Financial set a $128.00 target price on shares of ConocoPhillips in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.16.
View Our Latest Stock Analysis on COP
More ConocoPhillips News
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Argus raised its price target on ConocoPhillips to $136 from $128 and kept a Buy rating, signaling more upside potential for the shares. MarketScreener
- Positive Sentiment: Scotiabank lifted FY2026 and FY2027 earnings estimates for ConocoPhillips, reflecting improved expectations for the company’s profitability. MarketBeat report
- Positive Sentiment: Norway approved redevelopment plans for the Greater Ekofisk area, and ConocoPhillips also signed an offshore exploration memorandum of understanding in Syria, which could support future reserve and production growth. Yahoo Finance
- Positive Sentiment: Energy stocks broadly moved higher as oil prices stayed firm, which tends to improve sentiment for upstream producers like ConocoPhillips. Yahoo Finance sector update
- Neutral Sentiment: ConocoPhillips’ Q1 earnings-related coverage focused on comparing revenue, EPS, and key metrics with Wall Street estimates, with no major surprise highlighted in the summary provided. Zacks
- Neutral Sentiment: Shareholders approved board governance and auditors at the annual meeting, removing a routine governance overhang but not changing the core investment outlook. TipRanks
Insider Buying and Selling
In other news, Director Timothy A. Leach sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares in the company, valued at approximately $48,847,754.69. This represents a 8.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at approximately $869,822.10. The trade was a 98.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 734,891 shares of company stock valued at $93,345,692 in the last ninety days. Company insiders own 0.09% of the company’s stock.
ConocoPhillips Company Profile
ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.
The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.
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