Adams Natural Resources Fund Inc. Lowers Stock Holdings in ConocoPhillips $COP

Key Points

• Adams Natural Resources Fund reduced its ConocoPhillips stake by 15.7% in the fourth quarter, selling 70,100 shares and leaving it with 377,203 shares worth about $35.3 million.
• Insider selling has been notable recently, with SVP Kelly Brunetti Rose and EVP Nicholas G. Olds both trimming holdings; insiders have sold 634,715 shares worth about $81.4 million over the last 90 days.
• Analysts remain broadly bullish on COP, with a consensus rating of Moderate Buy and an average price target of $134.48, even as the company recently beat quarterly EPS and revenue estimates and pays a 2.9% dividend yield.

Adams Natural Resources Fund Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,203 shares of the energy producer's stock after selling 70,100 shares during the period. ConocoPhillips comprises approximately 5.4% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 3rd largest holding. Adams Natural Resources Fund Inc.'s holdings in ConocoPhillips were worth $35,310,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Strive Asset Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund bought a new position in shares of ConocoPhillips in the 4th quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of ConocoPhillips in the 3rd quarter worth $28,000. Sfam LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth $34,000. Finally, Optima Capital LLC bought a new position in shares of ConocoPhillips in the 4th quarter worth $34,000. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the business's stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company's stock, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the transaction, the executive vice president directly owned 5,395 shares in the company, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 634,715 shares of company stock valued at $81,410,816 over the last 90 days. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

COP has been the topic of several research analyst reports. Piper Sandler raised their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. UBS Group raised their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. BMO Capital Markets dropped their price objective on ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 13th. Argus raised their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Finally, Scotiabank lifted their price target on ConocoPhillips from $100.00 to $125.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 22nd. Seventeen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.48.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here's Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $116.59 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The stock's 50-day moving average is $120.62 and its 200-day moving average is $110.46. The firm has a market cap of $142.04 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.30 and a beta of 0.11. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.ConocoPhillips's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 earnings per share. Equities analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips's payout ratio is 57.05%.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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