86,391 ConocoPhillips $COP Shares Bought by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA significantly increased its ConocoPhillips stake by purchasing 86,391 shares, bringing its holdings to 89,812 shares valued at approximately $11.24 million. Institutional investors collectively own 82.36% of the company.
• Analyst sentiment remains generally positive, with the stock carrying a “Moderate Buy” consensus rating and a $143.29 average price target. Recent results exceeded expectations, while higher oil prices, resilient demand and potential asset sales could support earnings and cash flow.
• ConocoPhillips shares opened at $134.12, near their 52-week high, and the company pays a quarterly dividend of $0.84 per share, representing a 2.5% annualized yield. However, insiders have been net sellers, including an SVP who sold 9,487 shares.

Jacobs & Co. CA increased its position in ConocoPhillips (NYSE:COP - Free Report) by 2,525.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 89,812 shares of the energy producer's stock after acquiring an additional 86,391 shares during the period. Jacobs & Co. CA's holdings in ConocoPhillips were worth $11,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock worth $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock valued at $1,566,901,000 after purchasing an additional 1,609,759 shares in the last quarter. Invesco Ltd. boosted its position in shares of ConocoPhillips by 2.2% during the fourth quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer's stock valued at $1,255,594,000 after buying an additional 290,888 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of ConocoPhillips during the second quarter valued at $1,260,482,000. 82.36% of the stock is owned by institutional investors.

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 value of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade 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 accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices and supply concerns: Crude prices rose after a tanker attack disrupted traffic through the Strait of Hormuz, while hurricane-related shutdowns reduced Gulf of Mexico production. A larger-than-expected decline in U.S. inventories further tightened the market, improving the earnings and cash-flow outlook for upstream producers such as COP. ConocoPhillips gains as oil prices jump on supply fears
• Positive Sentiment: Potential $7 billion asset transaction: ConocoPhillips is evaluating an unsolicited offer for certain assets. Although the company has not committed to a sale, a transaction of that size could unlock value, strengthen the balance sheet, or fund shareholder returns if completed. With Oil Over $100 and a $7 Billion Offer on the Table
• Positive Sentiment: Constructive earnings expectations: Zacks upgraded COP from “hold” to “strong-buy,” citing its history of earnings surprises and favorable conditions for another beat. The company’s latest report exceeded consensus EPS and revenue estimates, reaffirmed full-year guidance, and highlighted strong operating cash flow and increased share repurchases. Will ConocoPhillips Beat Estimates Again?
• Positive Sentiment: Firm demand outlook: Coverage points to resilient crude and LNG demand, while several analysts maintain favorable ratings and price targets above the recent trading level. ConocoPhillips Stays in Focus as Crude and LNG Demand Firm
• Neutral Sentiment: Mixed institutional positioning: Some major institutions increased their COP holdings, but others reduced exposure, suggesting broad investor interest without a uniform conviction signal.
• Negative Sentiment: Insider selling: Three insiders sold shares during the past six months and no open-market purchases were reported. The sales may modestly temper sentiment, although they do not necessarily indicate a change in the company’s fundamentals.

Wall Street Analysts Forecast Growth

COP has been the subject of a number of recent analyst reports. Zacks Research raised ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Barclays dropped their price target 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. Susquehanna boosted their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a "positive" rating in a report on Tuesday, August 11th. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a report on Monday, June 22nd. Finally, Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the company a "buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $143.29.

ConocoPhillips Trading Down 0.1%

Shares of NYSE:COP opened at $134.12 on Friday. The stock's 50-day simple moving average is $129.66 and its two-hundred day simple moving average is $122.05. The stock has a market capitalization of $161.12 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.38 and a beta of 0.24. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP - Get Free Report) last released 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 firm had revenue of $19.52 billion during 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%. The business's revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. Analysts expect that ConocoPhillips will post 10.84 EPS for the current 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 issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips's dividend payout ratio is currently 44.44%.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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