8,191 ConocoPhillips $COP Shares Sold by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services reduced its ConocoPhillips position by 8,191 shares (2.9%) in Q3, ending the quarter with 278,525 shares valued at about $34.9 million. Institutional investors collectively own 82.36% of the company.
• ConocoPhillips beat quarterly earnings and revenue expectations, reporting EPS of $3.27 and revenue of $19.43 billion, up 29.2% year over year. It also raised its quarterly dividend from $0.84 to $0.93 per share.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus rating and an average price target of $145.04.

Commonwealth Equity Services LLC lessened its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,525 shares of the energy producer's stock after selling 8,191 shares during the quarter. Commonwealth Equity Services LLC's holdings in ConocoPhillips were worth $34,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Dimensions Group Ltd. lifted its holdings in shares of ConocoPhillips by 7.5% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 3,873 shares of the energy producer's stock valued at $485,000 after purchasing an additional 271 shares during the last quarter. Pathway Financial Advisers LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $49,000. Bfsg LLC increased its position in ConocoPhillips by 34.8% during the 3rd quarter. Bfsg LLC now owns 302 shares of the energy producer's stock valued at $38,000 after buying an additional 78 shares in the last quarter. Guardian Wealth Management Inc. increased its position in ConocoPhillips by 3.0% during the 3rd quarter. Guardian Wealth Management Inc. now owns 35,003 shares of the energy producer's stock valued at $4,381,000 after buying an additional 1,009 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in ConocoPhillips by 10.1% in the third quarter. Chicago Partners Investment Group LLC now owns 12,003 shares of the energy producer's stock valued at $1,810,000 after buying an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction 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 sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

ConocoPhillips Trading Up 0.1%

Shares of NYSE:COP opened at $136.38 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.52 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52-week low of $85.59 and a 52-week high of $154.28. The stock has a market cap of $163.83 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.28 and a beta of 0.16. The business has a 50-day moving average price of $136.92 and a 200-day moving average price of $122.10.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results 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 16.55% and a return on equity of 17.60%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the company earned $1.61 EPS. ConocoPhillips's quarterly revenue was up 29.2% on a year-over-year basis. Equities analysts predict that ConocoPhillips will post 11.84 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be issued a $0.93 dividend. This is an increase from ConocoPhillips's previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.7%. ConocoPhillips's payout ratio is currently 39.08%.

Analysts Set New Price Targets

COP has been the subject of several recent analyst reports. Piper Sandler initiated coverage on ConocoPhillips in a report on Tuesday, October 27th. They issued a "neutral" rating and a $157.00 price target for the company. Freedom Capital upgraded shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Seaport Research Partners started coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They issued a "neutral" rating for the company. Zacks Research upgraded shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Finally, Raymond James Financial reissued an "outperform" rating and set a $170.00 target price on shares of ConocoPhillips in a research report on Monday, November 2nd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and an average price target of $145.04.

ConocoPhillips News Roundup

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

About ConocoPhillips

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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