ConocoPhillips $COP Shares Sold by PNC Financial Services Group Inc.

Key Points

• PNC Financial Services trimmed its ConocoPhillips stake by 1.4% in the fourth quarter, selling 16,347 shares and ending with 1,176,077 shares valued at about $110.1 million.
• ConocoPhillips reported better-than-expected quarterly earnings of $1.89 per share on revenue of $15.76 billion, while also declaring a $0.84 quarterly dividend payable June 1, for a 2.7% yield.
• Recent sentiment around the stock remains constructive: analysts have mostly buy/overweight ratings, with Jefferies raising its target to $161, while company news highlighted a 30-year Alaska LNG gas sales deal and only months-long delays in Qatar gas JV projects.

PNC Financial Services Group Inc. decreased its stake in ConocoPhillips (NYSE:COP - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,176,077 shares of the energy producer's stock after selling 16,347 shares during the period. PNC Financial Services Group Inc. owned approximately 0.10% of ConocoPhillips worth $110,093,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of COP. AXA S.A. lifted its position 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 purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. increased its stake in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer's stock worth $70,397,000 after buying an additional 44,852 shares during the period. BNP Paribas purchased a new stake in ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. acquired a new position in ConocoPhillips in the 2nd quarter worth $151,000. Finally, Main Street Financial Solutions LLC boosted its position in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer's stock valued at $431,000 after buying an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $122.33 on Thursday. The stock has a market capitalization of $149.04 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 1.44 and a beta of 0.14. ConocoPhillips has a one year low of $84.28 and a one year high of $135.87. The company's 50-day simple moving average is $123.48 and its 200-day simple moving average is $107.14. 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 (NYSE:COP - Get Free Report) last announced its quarterly earnings data 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. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company earned $2.09 earnings per share. ConocoPhillips's quarterly revenue was down 6.1% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 9.63 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

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

Insider Buying and Selling at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 2,654 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 $317,630.72. Following the completion of the transaction, the senior vice president directly owned 5,663 shares of the company's stock, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by insiders.

ConocoPhillips News Summary

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on COP. Wells Fargo & Company raised their target price on ConocoPhillips from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Friday, February 6th. Citigroup increased their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Barclays raised their price objective on ConocoPhillips from $128.00 to $136.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Jefferies Financial Group lifted their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a "buy" rating in a report on Monday. Finally, Argus upped their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $133.12.

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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