ConocoPhillips $COP Stock: Avior Wealth Management LLC Raises Stake

Key Points

• Avior Wealth Management increased its ConocoPhillips stake by 50.3% in the third quarter, reaching 31,632 shares valued at approximately $3.96 million. Institutional investors collectively own 82.36% of COP.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $143.29, despite several firms recently adjusting their targets.
• ConocoPhillips reported quarterly EPS of $3.24, exceeding estimates, while revenue rose 32.4% year over year to $19.52 billion. The company also maintains a quarterly dividend of $0.84 per share, equivalent to a 2.4% annualized yield.

Avior Wealth Management LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 50.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,632 shares of the energy producer's stock after purchasing an additional 10,582 shares during the quarter. Avior Wealth Management LLC's holdings in ConocoPhillips were worth $3,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp raised its stake in ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. BlackRock Inc. raised its position in shares of ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock valued at $9,760,436,000 after buying an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock valued at $1,566,901,000 after buying an additional 1,609,759 shares in the last quarter. Invesco Ltd. raised its position in shares of ConocoPhillips by 2.2% during the 4th quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer's stock valued at $1,255,594,000 after buying an additional 290,888 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of ConocoPhillips during the 2nd quarter worth $1,260,482,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analyst Ratings Changes

COP has been the subject of several research reports. Barclays cut their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. The Goldman Sachs Group reduced their target price on ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company raised their price target on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Seaport Research Partners assumed coverage on ConocoPhillips in a research note on Thursday, September 3rd. They set a "neutral" rating for the company. Finally, Argus lifted their price target on ConocoPhillips from $136.00 to $153.00 and gave the stock a "buy" rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $143.29.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

ConocoPhillips Trading Up 2.5%

Shares of COP opened at $141.02 on Wednesday. The firm has a market cap of $169.42 billion, a price-to-earnings ratio of 17.73, a PEG ratio of 1.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $141.62. The firm has a 50 day moving average price of $130.48 and a 200-day moving average price of $122.15.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to analysts' expectations of $18.79 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The firm's revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts forecast that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips's dividend payout ratio (DPR) is presently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the business's 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 completion of the sale, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

About ConocoPhillips

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.