Cullen Capital Management LLC Cuts Stock Position in ConocoPhillips $COP

Key Points

• Cullen Capital Management trimmed its ConocoPhillips stake by 2.1% in the fourth quarter, though it still held 1.9 million shares worth about $179.3 million at the end of the period.
• ConocoPhillips reported better-than-expected quarterly earnings, posting $1.89 EPS versus the $1.72 consensus estimate, while revenue also slightly beat forecasts at $15.76 billion.
• The company continues to offer a 3.6% annualized dividend based on the recently paid quarterly dividend of $0.84 per share, while Wall Street remains broadly bullish with a Moderate Buy consensus rating.

Cullen Capital Management LLC lessened its stake in ConocoPhillips (NYSE:COP - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,915,053 shares of the energy producer's stock after selling 41,963 shares during the period. ConocoPhillips accounts for approximately 2.0% of Cullen Capital Management LLC's investment portfolio, making the stock its 20th largest holding. Cullen Capital Management LLC owned about 0.15% of ConocoPhillips worth $179,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer's stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the last quarter. Capital International Investors grew its stake in ConocoPhillips by 5.9% in the fourth quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Franklin Resources Inc. grew its stake in ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock valued at $1,407,770,000 after purchasing an additional 648,432 shares during the last quarter. Fisher Asset Management LLC grew its stake in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer's stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock valued at $1,228,886,000 after purchasing an additional 2,216,010 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $116.59 on Friday. 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 has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a market cap of $142.04 billion, a PE ratio of 19.79, a P/E/G ratio of 1.28 and a beta of 0.11. The business has a 50-day simple moving average of $120.62 and a two-hundred day simple moving average of $110.46.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company's revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips's payout ratio is 57.05%.

Insider Buying and Selling

In related news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company's stock, valued at $46,448,500. The trade was a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president directly owned 25,284 shares of the company's stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 634,715 shares of company stock valued at $81,410,816 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on COP shares. Raymond James Financial cut their target price on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating on the stock in a research note on Monday, June 1st. Freedom Capital lowered ConocoPhillips from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their target price on ConocoPhillips from $149.00 to $153.00 and gave the company an "overweight" rating in a research note on Thursday, May 21st. Piper Sandler raised their price target on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Finally, Susquehanna raised their price target on ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $134.48.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here's Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

ConocoPhillips Company 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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