ConocoPhillips $COP Shares Sold by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC cut its ConocoPhillips stake by 22.4% in the fourth quarter, selling 8,958 shares and leaving it with 30,962 shares valued at about $2.9 million.
• Wall Street sentiment remains constructive, with multiple firms raising price targets; Mizuho and others reiterated bullish ratings, and the consensus view is a Moderate Buy with an average target price of $134.60.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share on revenue of $15.76 billion, and it also announced a quarterly dividend of $0.84 per share, implying a 2.9% annualized yield.

Bleakley Financial Group LLC reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 22.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,962 shares of the energy producer's stock after selling 8,958 shares during the period. Bleakley Financial Group LLC's holdings in ConocoPhillips were worth $2,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in COP. AXA S.A. lifted its stake in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer's stock worth $7,622,000 after buying an additional 40,499 shares during the period. Sei Investments Co. raised its holdings in shares of ConocoPhillips by 6.1% during the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock worth $70,397,000 after purchasing an additional 44,852 shares during the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips during the second quarter worth $33,000. Osterweis Capital Management Inc. purchased a new position in shares of ConocoPhillips during the second quarter worth $151,000. Finally, Main Street Financial Solutions LLC raised its holdings in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock worth $431,000 after purchasing an additional 1,675 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Mizuho raised its price target on ConocoPhillips to $150 from $136 and reiterated an outperform rating, implying meaningful upside versus the current share price. Mizuho raises price target on ConocoPhillips
• Positive Sentiment: Morgan Stanley also increased its price target on COP, reinforcing the view that Wall Street sees room for more gains. ConocoPhillips price target raised by Morgan Stanley
• Positive Sentiment: Oil prices moved higher as renewed US-Iran tensions clouded the outlook for a smooth deal around the Strait of Hormuz, which can improve the revenue outlook for upstream producers like ConocoPhillips. Oil climbs as US-Iran clashes muddy outlook for peace deal
• Positive Sentiment: Analysts highlighted ConocoPhillips’ LNG strategy, including Port Arthur and Equatorial Guinea projects, as a longer-term free-cash-flow driver that could support valuation over time. ConocoPhillips LNG strategy emerges as key long-term growth driver
• Neutral Sentiment: Zacks published a value-stock writeup on COP, framing it as an attractive long-term investment, but it appears more educational than a new company-specific catalyst. Why ConocoPhillips is a top value stock for the long term
• Neutral Sentiment: Reports that ConocoPhillips may seek safeguards to return to Venezuela point to potential future upside, but the outcome remains uncertain and speculative. Exxon, ConocoPhillips seek safeguards to return to Venezuela

ConocoPhillips Stock Performance

COP opened at $115.15 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $140.28 billion, a PE ratio of 19.55, a PEG ratio of 1.31 and a beta of 0.14. The firm's 50-day moving average price is $123.45 and its 200 day moving average price is $108.23. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips's revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.09 EPS. As a group, sell-side analysts expect that ConocoPhillips will post 9.92 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 11th. ConocoPhillips's payout ratio is presently 57.05%.

Insider Buying and Selling

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the sale, the senior vice president directly owned 32,984 shares of the company's stock, valued at approximately $3,893,431.36. This trade represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy A. Leach sold 40,000 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the sale, the director directly owned 411,211 shares of the company's stock, valued at $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 734,891 shares of company stock worth $93,345,692 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on COP. Raymond James Financial raised their target price on shares of ConocoPhillips from $118.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, April 27th. The Goldman Sachs Group raised their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, February 6th. Citigroup raised their target price on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Zacks Research raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Finally, Mizuho lifted their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $134.60.

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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