10,521 ConocoPhillips $COP Shares Purchased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management increased its ConocoPhillips stake by 4.9%, purchasing 10,521 shares to bring its holdings to 223,601 shares valued at approximately $28 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips reported quarterly earnings of $3.24 per share, beating estimates by $0.34, while revenue rose 32.4% year over year to $19.52 billion. The company also maintains a quarterly dividend of $0.84, equivalent to a 2.2% annualized yield.
• Analysts hold a generally positive view, with a consensus “Moderate Buy” rating and a $145 price target, although the stock’s strong gains and relative-strength reading above 70 have raised concerns that it may be overbought and vulnerable to a pullback.

Cidel Asset Management Inc. boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223,601 shares of the energy producer's stock after buying an additional 10,521 shares during the quarter. ConocoPhillips makes up 1.4% of Cidel Asset Management Inc.'s holdings, making the stock its 22nd biggest position. Cidel Asset Management Inc.'s holdings in ConocoPhillips were worth $27,984,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Unison Advisors LLC grew its holdings in ConocoPhillips by 0.8% in the third quarter. Unison Advisors LLC now owns 18,146 shares of the energy producer's stock valued at $2,271,000 after purchasing an additional 138 shares during the period. Intrua Financial LLC increased its position in shares of ConocoPhillips by 0.6% in the third quarter. Intrua Financial LLC now owns 17,362 shares of the energy producer's stock valued at $2,173,000 after buying an additional 100 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its position in shares of ConocoPhillips by 17.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 3,737 shares of the energy producer's stock valued at $468,000 after buying an additional 564 shares in the last quarter. Summit Global Investments raised its stake in shares of ConocoPhillips by 65.9% during the 3rd quarter. Summit Global Investments now owns 7,632 shares of the energy producer's stock worth $955,000 after buying an additional 3,033 shares during the period. Finally, Americana Partners LLC raised its stake in shares of ConocoPhillips by 1.5% during the 3rd quarter. Americana Partners LLC now owns 37,657 shares of the energy producer's stock worth $4,713,000 after buying an additional 540 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Insiders Place Their Bets

In other news, SVP Andrew Lundquist sold 9,487 shares of the business'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 transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $154.10 on Friday. The firm has a 50-day simple moving average of $136.14 and a 200-day simple moving average of $121.05. The stock has a market capitalization of $185.13 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.24. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $154.28.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the business posted $1.42 earnings per share. ConocoPhillips's quarterly revenue was up 32.4% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 11.41 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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 $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 (DPR) is 44.44%.

Analysts Set New Price Targets

COP has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on ConocoPhillips from $151.00 to $159.00 and gave the company an "overweight" rating in a research report on Thursday, October 15th. Jefferies Financial Group boosted their price target on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, October 6th. Susquehanna upped their price objective on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a "positive" rating in a research report on Tuesday, October 20th. Raymond James Financial restated an "underperform" rating and set a $168.00 price objective on shares of ConocoPhillips in a research report on Monday, August 24th. Finally, UBS Group increased their price objective on shares of ConocoPhillips from $153.00 to $169.00 and gave the company a "buy" rating in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

Key Stories Impacting ConocoPhillips

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 Company 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.

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