Calamos Advisors LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,704 shares of the energy producer’s stock after purchasing an additional 4,809 shares during the period. Calamos Advisors LLC’s holdings in ConocoPhillips were worth $29,749,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. Carolina Wealth Advisors LLC purchased a new position in ConocoPhillips during the third quarter worth $28,000. Frazier Financial Advisors LLC boosted its stake in shares of ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 145 shares during the last quarter. William Mack & Associates Inc. purchased a new stake in ConocoPhillips during the 3rd quarter worth about $34,000. Ballast Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter worth about $36,000. Finally, Evergreen Advisors LLC acquired a new position in ConocoPhillips in the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on COP. Barclays reduced 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. Wells Fargo & Company cut their price objective on shares of ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday. Mizuho set a $149.00 price objective on shares of ConocoPhillips in a research note on Thursday. Piper Sandler initiated coverage on shares of ConocoPhillips in a research report on Tuesday, October 27th. They set a “neutral” rating and a $157.00 target price on the stock. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $157.00 target price on shares of ConocoPhillips in a research note on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.04.
ConocoPhillips Trading Up 0.7%
Shares of NYSE COP traded up $0.92 on Friday, reaching $136.38. 7,656,178 shares of the company traded hands, compared to its average volume of 5,991,996. ConocoPhillips has a fifty-two week low of $85.59 and a fifty-two week high of $154.28. The company has a 50 day moving average of $136.92 and a 200 day moving average of $122.10. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $163.84 billion, a PE ratio of 14.33, a P/E/G ratio of 1.43 and a beta of 0.16.
ConocoPhillips (NYSE:COP – Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.05 by $0.22. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue was up 29.2% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 11.81 earnings per share for the current fiscal year.
ConocoPhillips Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.7%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Monday, November 16th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.
ConocoPhillips News Summary
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: Strong Q3 results: ConocoPhillips reported adjusted earnings of $3.27 per share, above estimates, as higher realized commodity prices helped more than double earnings year over year. Revenue also topped expectations, and operating cash flow reached $7.2 billion. Article: ConocoPhillips Q3 Earnings Beat Estimates on Higher Commodity Prices
- Positive Sentiment: Higher shareholder payout and cash-flow ambitions: The company increased its quarterly dividend about 11%, to $0.93 per share. Management also reiterated a plan for roughly $7 billion in additional free cash flow by 2029, supported by lower capital spending, production growth and shareholder returns. Article: Is ConocoPhillips a Buy After Its Latest Earnings Report?
- Positive Sentiment: Willow project progress: The Alaska project is approaching a key milestone, with drilling targeted for 2027, supporting the company’s future production outlook. Article: ConocoPhillips eyes Willow drilling in 2027 as Alaska project reaches key milestone
- Neutral Sentiment: Analyst view remains favorable, but one target was trimmed: Wells Fargo lowered its price target from $189 to $185 while retaining an Overweight rating. Article: Wells Fargo recommendations
- Negative Sentiment: Production and price sensitivity: Output declined in the quarter, even as higher oil prices boosted results. That leaves earnings and cash returns exposed if commodity prices retreat. ETFs were also net sellers of about $22.9 million of COP shares on Nov. 4, a modest near-term pressure. Article: ETFs Are Net Sellers of ConocoPhillips
Insiders Place Their Bets
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.
ConocoPhillips Profile
ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.
The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.
ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.
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