Jennison Associates LLC Buys 10,779 Shares of ConocoPhillips $COP

Key Points

• Jennison Associates LLC increased its stake in ConocoPhillips by 7.6%, buying 10,779 shares to hold 153,240 shares valued at $14.345 million, and institutional investors now own 82.36% of COP.
• ConocoPhillips beat Q1 EPS ($1.89 vs. $1.68) but reported a ~6% YoY revenue decline and trimmed production/guidance (excluding Qatar) amid Middle East tensions, while management set 2026 capex at $12.0–$12.5B and reiterated multiyear free‑cash‑flow targets (~$7B by 2029).
• The company declared a quarterly dividend of $0.84 (2.7% yield) and retains a consensus "Moderate Buy" target of $133, even as insiders have sold sizable blocks of stock recently.

Jennison Associates LLC grew its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,240 shares of the energy producer's stock after purchasing an additional 10,779 shares during the period. Jennison Associates LLC's holdings in ConocoPhillips were worth $14,345,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in ConocoPhillips during the 4th quarter valued at about $427,000. Cardinal Capital Management lifted its position in ConocoPhillips by 1.6% during the 4th quarter. Cardinal Capital Management now owns 91,413 shares of the energy producer's stock valued at $8,557,000 after acquiring an additional 1,471 shares during the period. Bogart Wealth LLC lifted its position in ConocoPhillips by 150.6% during the 4th quarter. Bogart Wealth LLC now owns 391 shares of the energy producer's stock valued at $37,000 after acquiring an additional 235 shares during the period. Simplicity Wealth LLC lifted its position in ConocoPhillips by 8.4% during the 4th quarter. Simplicity Wealth LLC now owns 9,965 shares of the energy producer's stock valued at $933,000 after acquiring an additional 773 shares during the period. Finally, Turning Point Benefit Group Inc. lifted its position in ConocoPhillips by 31.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 2,215 shares of the energy producer's stock valued at $207,000 after acquiring an additional 528 shares during the period. Institutional investors own 82.36% of the company's stock.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Q1 results beat estimates on EPS and showed disciplined cost control and strong cash generation, supporting near‑term profitability. ConocoPhillips Q1 EPS beats estimates; shares fall on Qatar output cut
• Positive Sentiment: Higher crude prices from Mideast tensions are boosting margins and expected free cash flow, increasing capacity for buybacks/dividends. Higher Oil Prices Are Boosting This Oil Stock's Profits. Here's How It's Using That Windfall.
• Positive Sentiment: Management outlined a $12.0–$12.5B 2026 capex range and reiterated multiyear free‑cash‑flow targets (on track for ~$7B FCF inflection by 2029), which supports long‑term shareholder returns. ConocoPhillips outlines $12B-$12.5B 2026 capex range...
• Neutral Sentiment: Zacks upgraded COP to strong‑buy and broader analyst commentary may influence flows, but upgrades are offset by the company’s trimmed production view. Is It Worth Investing in ConocoPhillips (COP) Based on Wall Street's Bullish Views?
• Negative Sentiment: Management excluded Qatar from Q2 guidance and trimmed full‑year production targets amid the Middle East conflict, a direct hit to near‑term volume expectations. ConocoPhillips Q1 2026 earnings fall 21% to $2.2bn
• Negative Sentiment: YoY production and revenues declined (revenue down ~6%), and management warned of wider supply disruption risks — factors pressuring the stock despite the beat. ConocoPhillips posts lower first-quarter profit
• Negative Sentiment: Geopolitical escalation (Iran/Stait of Hormuz concerns) has pushed oil higher but raises operational and guidance uncertainty; market reaction shows shares falling on the guidance cut despite higher commodity prices. Oil Set for Weekly Gain as Trump Says Iran Blockade Will Persist

ConocoPhillips Stock Down 2.1%

COP opened at $123.19 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $122.17 and a 200-day moving average price of $104.33. ConocoPhillips has a twelve month low of $84.28 and a twelve month high of $135.87. The stock has a market capitalization of $150.15 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.74 and a beta of 0.14.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.21. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. During the same period in the previous year, the company earned $2.09 earnings per share. The firm's quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 9.47 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips's payout ratio is presently 57.05%.

Analyst Ratings Changes

A number of brokerages recently issued reports on COP. Zacks Research raised shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Wolfe Research lifted their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an "outperform" rating in a research report on Monday, April 6th. Argus lifted their price target on shares of ConocoPhillips from $111.00 to $128.00 and gave the company a "strong-buy" rating in a research report on Friday, February 13th. Scotiabank lifted their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada lifted their target price on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.04.

Insider Activity

In other news, Director Timothy A. Leach sold 40,000 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the completion of the transaction, the director directly owned 411,211 shares of the company's stock, valued at $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company's stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 734,891 shares of company stock valued at $93,345,692 over the last three months. Corporate insiders own 0.09% of the company's stock.

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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