Pacer Advisors Inc. cut its holdings in ConocoPhillips (NYSE:COP – Free Report) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,457,750 shares of the energy producer’s stock after selling 269,022 shares during the quarter. ConocoPhillips makes up about 0.6% of Pacer Advisors Inc.’s holdings, making the stock its 27th biggest holding. Pacer Advisors Inc.’s holdings in ConocoPhillips were worth $417,290,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of COP. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $28,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. BNP Paribas bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC purchased a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $34,000. 82.36% of the stock is currently owned by institutional investors.
ConocoPhillips Price Performance
Shares of COP opened at $107.92 on Friday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The company has a market capitalization of $131.48 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. The firm has a 50 day moving average of $118.99 and a 200 day moving average of $111.27. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.
ConocoPhillips Dividend Announcement
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 was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. ConocoPhillips’s payout ratio is currently 57.05%.
Key Headlines Impacting ConocoPhillips
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
- Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
- Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
- Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
- Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges
Insider Activity
In related news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer directly owned 350,000 shares in the company, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,915 shares of company stock valued at $16,915,448 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Citigroup raised their price objective on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Morgan Stanley boosted their target price on ConocoPhillips from $149.00 to $153.00 and gave the stock an “overweight” rating in a report on Thursday, May 21st. BMO Capital Markets cut their target price on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. UBS Group raised their price target on ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Piper Sandler lifted their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.48.
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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