Csenge Advisory Group purchased a new stake in ConocoPhillips (NYSE:COP – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,061 shares of the energy producer’s stock, valued at approximately $526,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock worth $11,256,713,000 after purchasing an additional 408,304 shares in the last quarter. BlackRock Inc. raised its stake in shares of ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares in the last quarter. Capital International Investors raised its stake in shares of ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Finally, Franklin Resources Inc. lifted its position in ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.
Key ConocoPhillips News
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
- Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
- Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
- Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
- Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
- Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
- Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.
ConocoPhillips Trading Up 3.4%
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. Research analysts forecast that ConocoPhillips will post 10.06 earnings per share for the current fiscal year.
ConocoPhillips Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.
Analyst Ratings Changes
COP has been the topic of several analyst reports. Mizuho lowered their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. The Goldman Sachs Group decreased their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley upped their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Finally, Argus raised their price target on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.21.
Check Out Our Latest Stock Report on ConocoPhillips
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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