ConocoPhillips $COP Shares Acquired by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC boosted its ConocoPhillips stake by 5.7% in the fourth quarter, ending with 258,998 shares worth about $24.2 million.
• Insider selling was notable: CEO Ryan Michael Lance sold 506,800 shares, while SVP Andrew D. Lundquist also sold shares, and insiders were reported to own just 0.09% of the company.
• Wall Street remains largely positive on COP, with a Moderate Buy consensus and a $133.12 average target price; the company also recently beat earnings estimates and announced a $0.84 quarterly dividend.

ProShare Advisors LLC increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 258,998 shares of the energy producer's stock after purchasing an additional 13,904 shares during the period. ProShare Advisors LLC's holdings in ConocoPhillips were worth $24,245,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in COP. Cloud Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $26,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips in the 4th quarter worth $28,000. Strive Asset Management LLC acquired a new position in ConocoPhillips in the third quarter valued at $28,000. Finally, BNP Paribas acquired a new position in ConocoPhillips in the second quarter valued at $33,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 506,800 shares of ConocoPhillips stock in a transaction on Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the sale, the chief executive officer owned 6,835 shares of the company's stock, valued at $869,822.10. The trade was a 98.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction on Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This trade represents a 66.39% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on COP. Piper Sandler upped their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Truist Financial set a $128.00 target price on ConocoPhillips in a report on Friday, May 1st. BMO Capital Markets dropped their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Argus raised their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a report on Friday, May 15th. Finally, Morgan Stanley lifted their price target on shares of ConocoPhillips from $108.00 to $149.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.12.

ConocoPhillips Price Performance

COP stock opened at $122.33 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The firm has a market cap of $149.04 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 1.44 and a beta of 0.14. The stock has a 50-day simple moving average of $123.48 and a 200-day simple moving average of $107.14.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate 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%.The company's revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. On average, equities analysts predict that ConocoPhillips will post 9.63 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips's dividend payout ratio (DPR) is currently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales agreement tied to the Alaska LNG project, giving the company long-duration visibility on gas volumes and strengthening the investment case for its Alaska assets. ConocoPhillips Alaska LNG Deal Extends Gas Visibility And Valuation Debate
• Positive Sentiment: Reuters reported that delays in ConocoPhillips’ Qatar gas joint ventures are expected to be measured in months rather than years, which reduces concern around the timing of future LNG growth. ConocoPhillips expects Qatar gas JVs delays of months, not years
• Positive Sentiment: Analysts and screeners highlighted COP as a high-ROE name, a momentum stock, and a company with rising earnings estimates, all of which can support investor demand for the shares. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?
• Positive Sentiment: Jefferies reportedly set a new $161 price target for COP, reinforcing a constructive Wall Street view on the stock. ConocoPhillips Given New $161.00 Price Target at Jefferies Financial Group
• Neutral Sentiment: Several articles were more about COP’s standing versus peers or general broker sentiment, offering context but little immediate new catalyst. ConocoPhillips (COP) Is Considered a Good Investment by Brokers: Is That True? Occidental Petroleum Stock Is Up 45% This Year...
• Negative Sentiment: Despite the positive longer-term narrative, COP also tracked a broader market pullback and energy volatility, which may have contributed to the stock’s softer tone in the latest trading session. 5 Stocks With High ROE to Profit as Markets Skid on Tech Slump

ConocoPhillips Company 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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