Assenagon Asset Management S.A. Has $66.32 Million Stock Position in ConocoPhillips $COP

Assenagon Asset Management S.A. reduced its holdings in ConocoPhillips (NYSE:COP - Free Report) by 62.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 637,954 shares of the energy producer's stock after selling 1,070,874 shares during the period. Assenagon Asset Management S.A. owned approximately 0.05% of ConocoPhillips worth $66,322,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in ConocoPhillips by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock worth $11,256,713,000 after buying an additional 408,304 shares in the last quarter. Capital International Investors increased its stake in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the period. Charles Schwab Investment Management Inc. raised its position in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares in the last quarter. Franklin Resources Inc. boosted its holdings in ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock valued at $1,407,770,000 after purchasing an additional 648,432 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock valued at $1,389,862,000 after purchasing an additional 193,401 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Q2 results exceeded expectations: ConocoPhillips reported adjusted earnings of $3.24 per share versus the roughly $2.90–$2.96 consensus, while revenue reached $19.52 billion, ahead of the $18.79 billion estimate. Earnings more than doubled year over year, supported by a 36% increase in realized prices to $62.33 per barrel of oil equivalent. ConocoPhillips Q2 earnings report
• Positive Sentiment: Cash flow and shareholder returns remained strong: The company generated approximately $7.4 billion in operating cash flow, repurchased $2 billion of stock and paid $1 billion in ordinary dividends. COP also declared another $0.84-per-share quarterly dividend, payable September 1 to shareholders of record August 17. ConocoPhillips second-quarter results and dividend
• Positive Sentiment: Long-term free-cash-flow outlook was reaffirmed: Management continues to target a $7 billion free-cash-flow inflection by 2029, helped by lower capital spending, major projects and improved Permian efficiency. Record Permian output and doubled share repurchases further supported the investment case. COP earnings call free-cash-flow outlook
• Positive Sentiment: Analyst sentiment improved: Goldman Sachs maintained a Buy rating and raised its price target to $140 following the earnings beat. Goldman Sachs raises COP price target
• Neutral Sentiment: Leadership transition appears orderly: CFO Andy O’Brien will become president and CEO on September 1, while Ryan Lance moves to transitional executive chair. The internal succession limits disruption but places execution expectations on the incoming chief executive. ConocoPhillips leadership succession announcement
• Negative Sentiment: Production declined year over year: Second-quarter production was 2.248 million barrels of oil equivalent per day, down from the prior year, although management expects third-quarter production to rise to 2.29–2.32 million barrels per day. ConocoPhillips Q2 2026 production and earnings data

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Capital upgraded ConocoPhillips from a "neutral" rating to a "buy" rating and upped their price target for the company from $124.00 to $130.00 in a research report on Monday, June 22nd. Truist Financial reduced their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a "hold" rating on the stock in a research note on Wednesday, July 8th. Susquehanna upped their target price on shares of ConocoPhillips from $152.00 to $155.00 and gave the stock a "positive" rating in a report on Tuesday, July 21st. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a report on Monday, June 1st. Finally, BMO Capital Markets cut their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.44.

ConocoPhillips Stock Performance

Shares of COP stock opened at $117.48 on Friday. The stock has a market cap of $143.13 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.37 and a beta of 0.11. The stock has a 50-day moving average of $113.08 and a 200-day moving average of $115.61. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.14. 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 quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter last year, the firm earned $1.42 EPS. ConocoPhillips's quarterly revenue was up 32.4% compared to the same quarter last year. As a group, sell-side analysts expect that ConocoPhillips will post 9.49 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. ConocoPhillips's payout ratio is presently 57.05%.

ConocoPhillips Profile

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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