Natixis Advisors LLC Acquires 72,041 Shares of ConocoPhillips $COP

Key Points

• Natixis Advisors LLC increased its ConocoPhillips stake by 3.6% in the fourth quarter, adding 72,041 shares to bring its total holdings to 2,068,467 shares worth about $193.6 million.
• ConocoPhillips reported solid quarterly results, with EPS of $1.89 beating estimates of $1.72 and revenue of $15.76 billion topping forecasts, even though revenue declined 6.1% year over year.
• Wall Street remains generally constructive on COP, with multiple analysts raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $134.48.

Natixis Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,068,467 shares of the energy producer's stock after acquiring an additional 72,041 shares during the quarter. Natixis Advisors LLC owned approximately 0.17% of ConocoPhillips worth $193,637,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips during the 3rd quarter valued at $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips during the 4th quarter worth $28,000. Strive Asset Management LLC bought a new position in shares of ConocoPhillips in the third quarter worth $28,000. BNP Paribas bought a new position in shares of ConocoPhillips in the second quarter worth $33,000. Finally, Optima Capital LLC bought a new position in shares of ConocoPhillips in the fourth quarter worth $34,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Several analysts have recently raised their price targets on ConocoPhillips, including Barclays and Raymond James, while maintaining bullish or positive ratings, signaling continued Wall Street confidence in the company’s valuation and long-term earnings potential. Barclays Raises PT on ConocoPhillips (COP) Stock
• Positive Sentiment: ConocoPhillips was highlighted by hedge-fund and market-screening articles as one of the better oil and gas names to own, with analysts pointing to its deep resource base and LNG portfolio as key strengths. ConocoPhillips (COP) – Among the 14 Best Oil and Gas Stocks to Buy According to Hedge Funds
• Positive Sentiment: Alaska lease-sale news is supportive for ConocoPhillips because the company was among the record bidders, and the expected boost in Alaskan oil production could improve future upstream opportunities for the industry. Alaskan frontier oil boom bodes well for energy industry
• Neutral Sentiment: Market commentary says ConocoPhillips has underperformed the Nasdaq over the past year, but this was balanced by the fact that analysts remain moderately optimistic and maintain a consensus “Moderate Buy” view. Is ConocoPhillips Stock Underperforming the Nasdaq?

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the sale, the senior vice president directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. The trade was a 23.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew D. Lundquist sold 34,500 shares of the company's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total value of $4,128,960.00. Following the completion of the transaction, the senior vice president owned 17,469 shares in the company, valued at $2,090,689.92. This represents a 66.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 734,891 shares of company stock worth $93,345,692 in the last 90 days. 0.09% of the stock is owned by company insiders.

ConocoPhillips Price Performance

NYSE COP opened at $115.42 on Tuesday. The company has a market cap of $140.62 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.28 and a beta of 0.11. ConocoPhillips has a 52 week low of $85.23 and a 52 week high of $135.87. 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's 50-day simple moving average is $122.88 and its two-hundred day simple moving average is $108.78.

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 (EPS) for the quarter, beating 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 company had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm's revenue for the quarter was down 6.1% compared to the same quarter last year. Research analysts predict that ConocoPhillips will post 9.92 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

COP has been the topic of a number of recent analyst reports. Argus lifted their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Piper Sandler lifted their price objective on ConocoPhillips from $154.00 to $157.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Roth Mkm lowered ConocoPhillips from a "buy" rating to a "neutral" rating and set a $112.00 price target on the stock. in a research note on Tuesday, February 17th. Finally, Citigroup boosted their price objective on ConocoPhillips from $135.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.48.

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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