Entropy Technologies LP Sells 153,373 Shares of ConocoPhillips $COP

Key Points

• Entropy Technologies LP cut its ConocoPhillips stake by 97.1% in the first quarter, selling 153,373 shares and retaining 4,590 shares valued at approximately $606,000.
• Institutional ownership remains high at 82.36%, with several major investors—including Capital International Investors, AQR Capital Management and Charles Schwab Investment Management—adding to their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $134.16. ConocoPhillips recently beat quarterly earnings expectations, reporting $1.89 in EPS versus the $1.72 consensus estimate, despite a 6.1% year-over-year revenue decline.

Entropy Technologies LP lessened its stake in ConocoPhillips (NYSE:COP - Free Report) by 97.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,590 shares of the energy producer's stock after selling 153,373 shares during the period. Entropy Technologies LP's holdings in ConocoPhillips were worth $606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital International Investors boosted its stake in shares of ConocoPhillips by 5.9% during 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 period. AQR Capital Management LLC raised its holdings in ConocoPhillips by 229.2% during the 4th quarter. AQR Capital Management LLC now owns 3,595,177 shares of the energy producer's stock valued at $336,544,000 after buying an additional 2,503,156 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 6.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer's stock valued at $3,880,151,000 after buying an additional 2,350,645 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ConocoPhillips by 46,105.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,310,281 shares of the energy producer's stock valued at $304,957,000 after buying an additional 2,305,281 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in ConocoPhillips by 3,775.8% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,893,340 shares of the energy producer's stock worth $249,921,000 after acquiring an additional 1,844,490 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Piper Sandler raised their target price on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Argus boosted their price target on ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a report on Friday, May 15th. UBS Group reduced their price target on ConocoPhillips from $155.00 to $143.00 and set a "buy" rating on the stock in a report on Wednesday, July 8th. Finally, Truist Financial lowered their price target on ConocoPhillips from $128.00 to $115.00 and set a "hold" rating for the company in a research report on Wednesday, July 8th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.16.

ConocoPhillips Stock Up 3.6%

NYSE:COP opened at $118.17 on Thursday. The company has a market capitalization of $143.97 billion, a PE ratio of 20.06, a P/E/G ratio of 1.38 and a beta of 0.12. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The firm's 50-day moving average price is $113.01 and its 200-day moving average price is $114.74.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business's revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. On average, equities analysts predict that ConocoPhillips will post 9.2 EPS for the current fiscal year.

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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