Greenup Street Wealth Management LLC increased its position in ConocoPhillips (NYSE:COP – Free Report) by 154.7% in the third quarter, Holdings Channel reports. The firm owned 22,902 shares of the energy producer’s stock after purchasing an additional 13,909 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in ConocoPhillips were worth $2,866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. State Street Corp lifted its holdings in ConocoPhillips by 73.2% during the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. BlackRock Inc. grew its position in shares of ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP grew its position in shares of ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ConocoPhillips by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock valued at $1,457,978,000 after acquiring an additional 74,261 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 10.8% in the 1st quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock valued at $1,344,017,000 after acquiring an additional 995,392 shares during the last quarter. 82.36% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
COP has been the topic of several research reports. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Zacks Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Susquehanna boosted their target price on shares of ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. Barclays dropped 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, August 17th. Finally, UBS Group raised their price target on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a research report on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.00.
Get Our Latest Research Report on ConocoPhillips
ConocoPhillips Trading Up 2.7%
ConocoPhillips stock opened at $154.10 on Friday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $154.28. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $185.13 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.46 and a beta of 0.24. The firm has a 50-day moving average price of $136.14 and a two-hundred day moving average price of $121.05.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.42 earnings per share. Sell-side analysts expect that ConocoPhillips will post 11.42 earnings per share for the current year.
ConocoPhillips Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is 44.44%.
Insider Buying and Selling
In related news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
ConocoPhillips News Summary
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
- Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
- Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
- Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
- Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
- Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs
About ConocoPhillips
ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.
The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.
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