MassMutual Private Wealth & Trust FSB Buys 52,175 Shares of ConocoPhillips $COP

Key Points

• MassMutual Private Wealth & Trust FSB increased its ConocoPhillips stake by 83.9% in the third quarter, buying 52,175 shares for a total holding of 114,337 shares valued at approximately $14.3 million. Institutional investors collectively own 82.36% of COP.
• Analysts maintain a generally positive outlook, with ConocoPhillips carrying a “Moderate Buy” consensus rating and an average price target of $141.24. UBS recently raised its target to $169 and maintained a Buy rating.
• ConocoPhillips exceeded quarterly earnings and revenue expectations, reporting $3.24 in EPS and $19.52 billion in revenue, while maintaining a quarterly dividend of $0.84 per share, equivalent to a 2.7% annual yield.

MassMutual Private Wealth & Trust FSB increased its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 83.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,337 shares of the energy producer's stock after purchasing an additional 52,175 shares during the quarter. MassMutual Private Wealth & Trust FSB's holdings in ConocoPhillips were worth $14,309,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its stake in ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer's stock valued at $12,328,767,000 after buying an additional 50,116,727 shares in the last quarter. BlackRock Inc. boosted its position in shares of ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer's stock worth $9,760,436,000 after acquiring an additional 2,712,703 shares in the last quarter. Capital International Investors increased its holdings in shares of ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer's stock valued at $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer's stock valued at $1,566,901,000 after acquiring an additional 1,609,759 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer's stock worth $1,407,770,000 after acquiring an additional 648,432 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on COP. Stifel Nicolaus began coverage on ConocoPhillips in a research note on Thursday, September 10th. They set a "hold" rating and a $148.00 target price for the company. Freedom Capital upgraded shares of ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Truist Financial lifted their target price on ConocoPhillips from $115.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, UBS Group raised their price target on ConocoPhillips from $153.00 to $169.00 and gave the stock a "buy" rating in a research note on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $141.24.

ConocoPhillips Stock Performance

Shares of COP stock opened at $126.78 on Monday. The stock's 50-day moving average price is $128.29 and its 200 day moving average price is $121.80. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $152.31 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.34 and a beta of 0.24. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same quarter in the previous year, the company posted $1.42 earnings per share. The company's revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, equities research analysts forecast that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips's payout ratio is presently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company's stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to purchase 1 million tonnes per annum of LNG from Venture Global for 20 years beginning in 2030. The deal secures long-term supply and expands COP’s LNG exposure, although the financial impact is several years away. ConocoPhillips signs 20-year LNG deal with Venture Global
• Positive Sentiment: ConocoPhillips is reviewing an unsolicited offer for its Norway business and U.K. Teesside asset. A potential sale could generate cash, simplify the portfolio and allow the company to focus on higher-return assets, though no transaction has been announced. ConocoPhillips explores sale of Norway business and UK Teesside asset
• Neutral Sentiment: Reports identify potential contenders for ConocoPhillips’ Norway assets, suggesting that the review may attract buyer interest. However, the value, timing and use of proceeds remain uncertain. Who are the contenders for ConocoPhillips’ Norway assets?
• Neutral Sentiment: Potential U.S. energy investment tied to an Alaska natural-gas pipeline and nuclear projects could create future opportunities for ConocoPhillips, but the projects are prospective and provide no immediate earnings benefit. South Korea set to invest $200 billion in the U.S.
• Negative Sentiment: Energy stocks came under broader market pressure, which likely weighed on COP independently of its company-specific announcements. Sector Update: Energy Stocks Fall Premarket Thursday

ConocoPhillips Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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