E Fund Management Co. Ltd. purchased a new stake in shares of ConocoPhillips (NYSE:COP – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,531 shares of the energy producer’s stock, valued at approximately $471,000.
A number of other large investors also recently modified their holdings of the company. AXA S.A. increased its stake in ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its stake in shares of ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after acquiring an additional 44,852 shares during the period. BNP Paribas bought a new position in shares of ConocoPhillips in the second quarter worth about $33,000. Osterweis Capital Management Inc. purchased a new stake in shares of ConocoPhillips during the second quarter worth about $151,000. Finally, Main Street Financial Solutions LLC grew its position in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.
ConocoPhillips Price Performance
Shares of ConocoPhillips stock opened at $135.00 on Friday. The stock has a market cap of $162.18 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 1.44 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a 50 day moving average price of $114.92 and a 200-day moving average price of $117.53. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.
ConocoPhillips Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips’s payout ratio is 44.44%.
More 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.
Wall Street Analyst Weigh In
A number of research firms recently commented on COP. Morgan Stanley boosted their price target on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a report on Monday, May 18th. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Barclays lowered their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a research report on Monday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.21.
Check Out Our Latest Report on COP
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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