ConocoPhillips $COP Stock Purchased by Pinkerton Wealth LLC

Key Points

• Pinkerton Wealth LLC increased its ConocoPhillips stake by 8.6% in the third quarter, adding 7,015 shares to own 88,563 shares worth approximately $11.1 million. Institutional investors collectively own 82.36% of COP.
• ConocoPhillips reported quarterly EPS of $3.24, beating estimates by $0.34, while revenue rose 32.4% year over year to $19.52 billion. The company pays a quarterly dividend of $0.84 per share, equivalent to a 2.2% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $145.08, although technical indicators suggest the stock may be overbought after its strong run.

Pinkerton Wealth LLC grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 8.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,563 shares of the energy producer's stock after buying an additional 7,015 shares during the quarter. ConocoPhillips comprises 1.7% of Pinkerton Wealth LLC's holdings, making the stock its 9th biggest position. Pinkerton Wealth LLC's holdings in ConocoPhillips were worth $11,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Warwick Investment Management Inc. increased its stake in shares of ConocoPhillips by 2.1% during the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer's stock valued at $509,000 after acquiring an additional 82 shares during the period. IFC Advisors LLC lifted its position in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock worth $2,664,000 after purchasing an additional 84 shares during the period. Kennebec Savings Bank lifted its position in ConocoPhillips by 1.3% in the third quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer's stock worth $855,000 after purchasing an additional 85 shares during the period. Cornerstone Planning Group LLC boosted its stake in ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after purchasing an additional 88 shares in the last quarter. Finally, Prosperitas Financial LLC boosted its stake in ConocoPhillips by 4.1% during the 3rd quarter. Prosperitas Financial LLC now owns 2,300 shares of the energy producer's stock valued at $288,000 after purchasing an additional 91 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

ConocoPhillips Price Performance

NYSE COP opened at $154.10 on Monday. The stock has a market capitalization of $185.13 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.50 and a beta of 0.16. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $154.28. The business's fifty day moving average is $136.14 and its two-hundred day moving average is $121.05. 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 (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company's quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.42 EPS. On average, research analysts forecast that ConocoPhillips will post 11.41 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. ConocoPhillips's payout ratio is 44.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on COP shares. Susquehanna lifted their price target on ConocoPhillips from $161.00 to $175.00 and gave the company a "positive" rating in a research report on Tuesday, October 20th. Truist Financial upped their price objective on ConocoPhillips from $130.00 to $136.00 and gave the company a "hold" rating in a report on Wednesday, October 7th. Wells Fargo & Company raised their target price on ConocoPhillips from $183.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. William Blair assumed coverage on ConocoPhillips in a report on Wednesday. They set a "market perform" rating on the stock. Finally, Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given 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.com, ConocoPhillips has a consensus rating of "Moderate Buy" and a consensus price target of $145.08.

Insider Activity at ConocoPhillips

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

ConocoPhillips Company 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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