Nuveen LLC lessened its stake in ConocoPhillips (NYSE:COP - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,137,843 shares of the energy producer's stock after selling 194,999 shares during the quarter. Nuveen LLC owned approximately 0.66% of ConocoPhillips worth $761,783,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer's stock worth $220,506,000 after buying an additional 298,245 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of ConocoPhillips by 8.7% in the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer's stock worth $188,842,000 after buying an additional 160,410 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer's stock worth $8,067,000 after buying an additional 20,501 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of ConocoPhillips in the third quarter worth $1,892,000. Finally, D.A. Davidson & CO. increased its position in ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer's stock worth $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on COP. Truist Financial set a $128.00 price target on shares of ConocoPhillips in a research report on Friday, May 1st. Wolfe Research boosted their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Susquehanna boosted their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Barclays boosted their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Mizuho boosted their price target on shares of ConocoPhillips from $136.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 27th. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.48.
Get Our Latest Stock Analysis on ConocoPhillips
Insider Buying and Selling at ConocoPhillips
In other ConocoPhillips news, CEO Ryan Michael Lance sold 506,800 shares of the business's stock in a transaction on Friday, March 20th. The shares were sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the transaction, the chief executive officer owned 6,835 shares in the company, valued at $869,822.10. The trade was a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business's stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 634,715 shares of company stock worth $81,410,816 over the last quarter. Insiders own 0.09% of the company's stock.
ConocoPhillips Trading Down 3.8%
COP stock opened at $115.41 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. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. The stock has a market capitalization of $140.60 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11. The firm's fifty day simple moving average is $120.86 and its two-hundred day simple moving average is $110.41.
ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data 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. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts' expectations of $15.62 billion. During the same quarter in the previous year, the business posted $2.09 earnings per share. The business's revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.
ConocoPhillips Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. ConocoPhillips's payout ratio is 57.05%.
Key ConocoPhillips News
Here are the key news stories impacting ConocoPhillips this week:
- Positive Sentiment: ConocoPhillips joined TotalEnergies and QatarEnergy in an MoU with the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, which could create a new long-term exploration opportunity if the project advances. Article Title
- Positive Sentiment: Recent commentary on COP remains constructive overall, with some analysts highlighting the company’s resilience and others maintaining upbeat price targets, suggesting Wall Street still sees upside potential over time. Article Title
- Neutral Sentiment: Energy stocks broadly have been stronger this year, and the sector ETF’s gains show investors are still favoring oil and gas names despite recent pullbacks. Article Title
- Neutral Sentiment: ConocoPhillips reported solid last quarter results, beating EPS and revenue estimates, which continues to support the investment case even though year-over-year revenue declined.
- Negative Sentiment: Insider activity has been negative, with a recent director stock sale adding to a pattern of insider selling that can weigh on sentiment. Article Title
- Negative Sentiment: One recent article framed COP as vulnerable to additional market weakness, reinforcing concerns that the stock could stay tied to crude-price moves if oil sentiment softens further. Article Title
ConocoPhillips Profile
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ConocoPhillips, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ConocoPhillips wasn't on the list.
While ConocoPhillips currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
