DNB Asset Management AS Buys 21,598 Shares of ConocoPhillips $COP

Key Points

• DNB Asset Management AS increased its ConocoPhillips stake by 5.8% in the fourth quarter, buying 21,598 additional shares and bringing its total holdings to 392,417 shares worth about $36.7 million.
• ConocoPhillips reported better-than-expected quarterly results, posting EPS of $1.89 versus the $1.72 consensus estimate, while revenue of $15.76 billion also slightly topped forecasts.
• The company declared a quarterly dividend of $0.84 per share, equivalent to an annualized yield of 2.7%, and analysts overall maintain a Moderate Buy rating with an average price target of $133.16.

DNB Asset Management AS grew its stake in ConocoPhillips (NYSE:COP - Free Report) by 5.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 392,417 shares of the energy producer's stock after acquiring an additional 21,598 shares during the quarter. DNB Asset Management AS's holdings in ConocoPhillips were worth $36,734,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI raised its holdings in ConocoPhillips by 33.0% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 79,782 shares of the energy producer's stock worth $7,468,000 after purchasing an additional 19,813 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ConocoPhillips by 255.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer's stock valued at $173,853,000 after buying an additional 1,334,687 shares in the last quarter. Isthmus Partners LLC purchased a new position in shares of ConocoPhillips in the 4th quarter worth approximately $262,000. Thrivent Financial for Lutherans grew its position in shares of ConocoPhillips by 1.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,115,151 shares of the energy producer's stock worth $198,004,000 after buying an additional 35,162 shares during the last quarter. Finally, Triton Wealth Management PLLC bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $196,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 2.8%

NYSE:COP opened at $122.36 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87. The company has a market cap of $149.07 billion, a PE ratio of 20.77, a P/E/G ratio of 1.37 and a beta of 0.14. The company's 50 day moving average is $123.07 and its two-hundred day moving average is $106.25.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter last year, the company posted $2.09 earnings per share. The business's quarterly revenue was down 6.1% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 9.66 EPS for the current year.

ConocoPhillips Announces Dividend

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

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the firm's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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. In the last quarter, insiders have sold 734,891 shares of company stock worth $93,345,692. 0.09% of the stock is owned by corporate insiders.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Argus raised its price target on ConocoPhillips to $136 from $128 and kept a Buy rating, signaling more upside potential for the shares. MarketScreener
• Positive Sentiment: Scotiabank lifted FY2026 and FY2027 earnings estimates for ConocoPhillips, reflecting improved expectations for the company’s profitability. MarketBeat report
• Positive Sentiment: Norway approved redevelopment plans for the Greater Ekofisk area, and ConocoPhillips also signed an offshore exploration memorandum of understanding in Syria, which could support future reserve and production growth. Yahoo Finance
• Positive Sentiment: Energy stocks broadly moved higher as oil prices stayed firm, which tends to improve sentiment for upstream producers like ConocoPhillips. Yahoo Finance sector update
• Neutral Sentiment: ConocoPhillips’ Q1 earnings-related coverage focused on comparing revenue, EPS, and key metrics with Wall Street estimates, with no major surprise highlighted in the summary provided. Zacks
• Neutral Sentiment: Shareholders approved board governance and auditors at the annual meeting, removing a routine governance overhang but not changing the core investment outlook. TipRanks

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Roth Mkm cut shares of ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 target price for the company. in a research report on Tuesday, February 17th. Royal Bank Of Canada upped their price target on ConocoPhillips from $118.00 to $152.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 8th. Wolfe Research increased their price objective on ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a report on Monday, April 6th. Jefferies Financial Group raised their price objective on ConocoPhillips from $129.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Finally, Morgan Stanley boosted their target price on ConocoPhillips from $108.00 to $149.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $133.16.

About ConocoPhillips

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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