ConocoPhillips $COP Shares Bought by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its ConocoPhillips stake by 19.5% in the third quarter, adding 17,207 shares to hold 105,617 shares valued at about $13.3 million. Institutional investors collectively own 82.36% of the company.
• Analyst views are mostly positive: 19 analysts rate COP Buy and two rate it Strong Buy, contributing to a “Moderate Buy” consensus and an average price target of $145.29. Some recent commentary cautioned that the stock’s rally has left it trading at a premium.
• ConocoPhillips topped quarterly earnings and revenue estimates, reporting EPS of $3.27 and revenue of $19.43 billion; revenue rose 29.2% year over year. The company also raised its quarterly dividend from $0.84 to $0.93 per share.

Candriam S.C.A. lifted its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 19.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 105,617 shares of the energy producer's stock after buying an additional 17,207 shares during the quarter. Candriam S.C.A.'s holdings in ConocoPhillips were worth $13,266,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COP. Bfsg LLC grew its stake in ConocoPhillips by 34.8% in 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 during the last quarter. Warwick Investment Management Inc. lifted its position in ConocoPhillips by 2.1% during the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer's stock worth $509,000 after acquiring an additional 82 shares during the last quarter. IFC Advisors LLC lifted its position in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock worth $2,664,000 after acquiring an additional 84 shares during the last quarter. Kennebec Savings Bank boosted its holdings in shares of ConocoPhillips by 1.3% during the third quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer's stock worth $855,000 after acquiring an additional 85 shares during the period. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock worth $124,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

COP has been the topic of several research reports. UBS Group reaffirmed an "outperform" rating on shares of ConocoPhillips in a research report on Monday, November 2nd. Morgan Stanley lifted their price target on ConocoPhillips from $151.00 to $159.00 and gave the stock an "overweight" rating in a report on Thursday, October 15th. Seaport Research Partners started coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a "neutral" rating for the company. Susquehanna upped their price objective on ConocoPhillips from $161.00 to $175.00 and gave the company a "positive" rating in a report on Tuesday, October 20th. Finally, Jefferies Financial Group increased their price objective on ConocoPhillips from $159.00 to $174.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $145.29.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ low-cost assets, LNG expansion and Willow project support its growth outlook. One analysis also noted the stock had rallied 54.4% this year, though it cautioned that this strength has left COP trading at a premium. ConocoPhillips Trades at a Premium: Is It the Right Time to Buy?
• Neutral Sentiment: Truist raised its price target from $136 to $142 but maintained a Hold rating, indicating measured rather than strong optimism. Truist Financial price target update
• Negative Sentiment: Valuation is a concern after COP’s substantial rally, which could limit near-term upside if investors view the shares as expensive. Zacks valuation analysis
• Negative Sentiment: Wells Fargo cut its price target, while a separate Seeking Alpha article flagged a rating downgrade, adding to the cautious analyst outlook. The provided reports did not specify the revised Wells Fargo target. Wells Fargo price target cut Seeking Alpha rating downgrade

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE COP opened at $134.60 on Tuesday. The firm has a 50-day moving average price of $137.00 and a two-hundred day moving average price of $122.29. ConocoPhillips has a 12-month low of $85.70 and a 12-month high of $154.28. The company has a market capitalization of $161.70 billion, a P/E ratio of 14.14, a P/E/G ratio of 1.29 and a beta of 0.16. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.05 by $0.22. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.43 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same period last year, the firm earned $1.61 earnings per share. The business's revenue for the quarter was up 29.2% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 11.84 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.93 per share. This is an increase from ConocoPhillips's previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 16th. ConocoPhillips's dividend payout ratio (DPR) is currently 35.29%.

ConocoPhillips Company Profile

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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