Heritage Investors Management Corp lessened its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 7.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 175,975 shares of the energy producer’s stock after selling 13,442 shares during the quarter. Heritage Investors Management Corp’s holdings in ConocoPhillips were worth $22,023,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in COP. Venture Visionary Partners LLC increased its stake in ConocoPhillips by 263.6% during the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock valued at $14,850,000 after buying an additional 86,019 shares during the period. Cooper Financial Group raised its position in shares of ConocoPhillips by 55.9% during the 3rd quarter. Cooper Financial Group now owns 11,635 shares of the energy producer’s stock worth $1,456,000 after buying an additional 4,172 shares in the last quarter. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $6,896,000. Qsemble Capital Management LP bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $3,645,000. Finally, Cetera Trust Company N.A bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $870,000. Institutional investors own 82.36% of the company’s stock.
Insiders Place Their Bets
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.
ConocoPhillips Stock Up 0.0%
Shares of ConocoPhillips stock opened at $154.10 on Monday. The stock’s fifty day moving average is $136.14 and its 200-day moving average is $121.05. 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 PE ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.16. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $154.28.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period last year, the company posted $1.42 earnings per share. The business’s revenue for the quarter was up 32.4% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 11.41 earnings per share for the current year.
ConocoPhillips Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.
Analyst Ratings Changes
A number of research firms recently commented on COP. Morgan Stanley raised their price objective on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Barclays cut their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Seaport Research Partners initiated coverage on ConocoPhillips in a research note on Thursday, September 3rd. They set a “neutral” rating for the company. Stifel Nicolaus began coverage on ConocoPhillips in a research note on Thursday, September 10th. They set a “hold” rating and a $148.00 price target for the company. Finally, UBS Group reiterated an “outperform” rating on shares of ConocoPhillips in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.00.
More ConocoPhillips News
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
ConocoPhillips Profile
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.
Featured Articles
- Five stocks we like better than ConocoPhillips
- Marvell Eyes a Swing for the AI Networking Fences as Markets Weigh Lumentum Price Tag
- Exxon’s Refining Profits Soared—Did Chevron Get the Same Windfall?
- Eli Lilly’s First Full Medicare Quarter: Is Volume Still Outrunning Price Cuts?
- Oracle’s AI Spending Peak Is in Sight—Can the Stock Recover?
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP – Free Report).
Receive News & Ratings for ConocoPhillips Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConocoPhillips and related companies with MarketBeat.com's FREE daily email newsletter.
