Peterson Wealth Services grew its position in ConocoPhillips (NYSE:COP – Free Report) by 28,287.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,420 shares of the energy producer’s stock after acquiring an additional 45,260 shares during the quarter. ConocoPhillips makes up approximately 1.1% of Peterson Wealth Services’ holdings, making the stock its 24th largest position. Peterson Wealth Services’ holdings in ConocoPhillips were worth $4,252,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in COP. Victory Capital Management Inc. grew its stake in ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock worth $220,506,000 after buying an additional 298,245 shares during the last quarter. Natixis Advisors LLC grew its stake in ConocoPhillips by 8.7% during the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after buying an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in ConocoPhillips by 31.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after buying an additional 20,501 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in ConocoPhillips during the 3rd quarter worth $1,892,000. Finally, D.A. Davidson & CO. grew its stake in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after buying an additional 14,833 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.
ConocoPhillips Trading Down 3.8%
NYSE:COP opened at $115.41 on Friday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The stock has a market cap of $140.60 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.33 and a beta of 0.11. The business has a fifty day moving average of $120.86 and a 200-day moving average of $110.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.
ConocoPhillips Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is presently 57.05%.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Raymond James Financial lowered their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. Royal Bank Of Canada upped their price objective on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wolfe Research upped their price objective on ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.
Key Stories Impacting ConocoPhillips
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: ConocoPhillips joined TotalEnergies and QatarEnergy in an MoU with the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, which could create a new long-term exploration opportunity if the project advances. Article Title
- Positive Sentiment: Recent commentary on COP remains constructive overall, with some analysts highlighting the company’s resilience and others maintaining upbeat price targets, suggesting Wall Street still sees upside potential over time. Article Title
- Neutral Sentiment: Energy stocks broadly have been stronger this year, and the sector ETF’s gains show investors are still favoring oil and gas names despite recent pullbacks. Article Title
- Neutral Sentiment: ConocoPhillips reported solid last quarter results, beating EPS and revenue estimates, which continues to support the investment case even though year-over-year revenue declined.
- Negative Sentiment: Insider activity has been negative, with a recent director stock sale adding to a pattern of insider selling that can weigh on sentiment. Article Title
- Negative Sentiment: One recent article framed COP as vulnerable to additional market weakness, reinforcing concerns that the stock could stay tied to crude-price moves if oil sentiment softens further. Article Title
Insider Transactions at ConocoPhillips
In other news, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer owned 6,835 shares of the company’s stock, valued at approximately $869,822.10. This represents a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 634,715 shares of company stock valued at $81,410,816. 0.09% of the stock is currently owned by corporate insiders.
About ConocoPhillips
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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