ConocoPhillips $COP Shares Bought by Oppenheimer & Co. Inc.

Key Points

• Institutional ownership increased: Oppenheimer & Co. nearly doubled its ConocoPhillips position to 83,879 shares, while several other funds also added or initiated holdings. Institutional investors and hedge funds own 82.36% of the stock.
• Strong financial performance and shareholder returns: ConocoPhillips reported quarterly EPS of $3.24, beating estimates, while revenue rose 32.4% year over year. The company also pays a quarterly dividend of $0.84, or $3.36 annually, yielding about 2.3%.
• Shares have gained momentum, but analysts remain mixed: COP traded near its 52-week high, with a consensus “Moderate Buy” rating and an average price target of $145. An insider sale and planned Canadian workforce reductions add some caution to the outlook.

Oppenheimer & Co. Inc. grew its position in ConocoPhillips (NYSE:COP - Free Report) by 99.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,879 shares of the energy producer's stock after buying an additional 41,743 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in ConocoPhillips were worth $10,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Venture Visionary Partners LLC boosted its position in ConocoPhillips by 263.6% during the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer's stock worth $14,850,000 after acquiring an additional 86,019 shares during the period. Cooper Financial Group increased its holdings in shares of ConocoPhillips by 55.9% in the 3rd quarter. Cooper Financial Group now owns 11,635 shares of the energy producer's stock valued at $1,456,000 after purchasing an additional 4,172 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new position in ConocoPhillips in the 2nd quarter valued at approximately $6,896,000. Cetera Trust Company N.A acquired a new position in shares of ConocoPhillips in the second quarter worth $870,000. Finally, Qsemble Capital Management LP acquired a new position in ConocoPhillips in the 2nd quarter worth about $3,645,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP opened at $147.94 on Wednesday. The business has a 50 day moving average price of $134.99 and a 200 day moving average price of $120.24. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $152.77. The firm has a market cap of $177.72 billion, a P/E ratio of 19.57 and a beta of 0.24.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the company earned $1.42 EPS. The firm's revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 11.42 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips's payout ratio is presently 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction 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 owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.09% of the company's stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong oil-price backdrop: COP recently reached a new 52-week high as Brent crude rose above $116 per barrel, supporting the outlook for exploration and production companies’ cash flow and earnings. Why Did XOM, COP, CVX Jump To 52-Week Highs Last Week?
• Positive Sentiment: Near-term earnings optimism: Analysts expect a double-digit increase in third-quarter earnings, providing a potential catalyst if production, realized prices, and guidance exceed expectations. What to Expect From ConocoPhillips' Next Quarterly Earnings Report
• Neutral Sentiment: Analyst view remains cautious but constructive: Piper Sandler initiated coverage with a “neutral” rating and a $157 price target, implying moderate upside from recent levels but no strong recommendation to buy. Piper Sandler Stock Recommendations
• Neutral Sentiment: Momentum has been positive: COP gained nearly 3% over the past week and recently set a 52-week high, but the pullback indicates investors may be locking in gains after the strong run. ConocoPhillips Is Up 2.93% in One Week
• Negative Sentiment: Canadian workforce cuts are weighing on sentiment: ConocoPhillips plans another reduction in its Canadian workforce as it restructures regional operations. While the move could lower costs and align staffing with project priorities, repeated cuts raise questions about growth plans, employee relations, and asset investment. ConocoPhillips Plans Job Cuts in Canada for Second Straight Year

Wall Street Analyst Weigh In

Several brokerages have recently commented on COP. Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a "hold" rating and a $148.00 price target on the stock. Zacks Research raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Truist Financial upped their price objective on shares of ConocoPhillips from $130.00 to $136.00 and gave the stock a "hold" rating in a report on Wednesday, October 7th. Weiss Ratings raised shares of ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 29th. Finally, UBS Group increased their target price on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $145.00.

ConocoPhillips Profile

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

The company's portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.

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