Pacific Heights Asset Management LLC Purchases 90,000 Shares of ConocoPhillips $COP

Key Points

• Pacific Heights Asset Management increased its ConocoPhillips stake by 42.9% in the fourth quarter, buying an additional 90,000 shares to bring its total to 300,000 shares worth about $28.1 million.
• ConocoPhillips reported better-than-expected first-quarter earnings of $1.89 per share versus estimates of $1.72, while revenue of $15.76 billion also topped forecasts.
• The company announced a quarterly dividend of $0.84 per share, payable June 1, which works out to an annualized dividend of $3.36 and a yield of 2.7%.

Pacific Heights Asset Management LLC boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 42.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 300,000 shares of the energy producer's stock after acquiring an additional 90,000 shares during the period. ConocoPhillips accounts for about 1.1% of Pacific Heights Asset Management LLC's investment portfolio, making the stock its 28th largest position. Pacific Heights Asset Management LLC's holdings in ConocoPhillips were worth $28,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Capital International Investors raised its stake in ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer's stock worth $4,318,239,000 after acquiring an additional 7,037,873 shares during the period. Primecap Management Co. CA raised its stake in ConocoPhillips by 31.3% during the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer's stock worth $979,102,000 after acquiring an additional 2,467,555 shares during the period. Ameriprise Financial Inc. raised its stake in ConocoPhillips by 20.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer's stock worth $1,228,886,000 after acquiring an additional 2,216,010 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $135,265,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of ConocoPhillips by 255.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer's stock valued at $173,853,000 after buying an additional 1,334,687 shares during the last quarter. Institutional investors own 82.36% of the company's stock.

ConocoPhillips Trading Down 0.0%

COP stock opened at $122.36 on Monday. The firm has a fifty day moving average price of $123.07 and a 200 day moving average price of $106.37. ConocoPhillips has a fifty-two week low of $84.28 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market cap of $149.07 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.14.

ConocoPhillips (NYSE:COP - Get Free Report) last posted 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. 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 analyst estimates of $15.62 billion. During the same period last year, the firm posted $2.09 earnings per share. ConocoPhillips's revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 11th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips's dividend payout ratio (DPR) is 57.05%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Argus raised its price target on ConocoPhillips to $136 from $128 and kept a Buy rating, signaling more upside potential for the shares. MarketScreener
• Positive Sentiment: Scotiabank lifted FY2026 and FY2027 earnings estimates for ConocoPhillips, reflecting improved expectations for the company’s profitability. MarketBeat report
• Positive Sentiment: Norway approved redevelopment plans for the Greater Ekofisk area, and ConocoPhillips also signed an offshore exploration memorandum of understanding in Syria, which could support future reserve and production growth. Yahoo Finance
• Positive Sentiment: Energy stocks broadly moved higher as oil prices stayed firm, which tends to improve sentiment for upstream producers like ConocoPhillips. Yahoo Finance sector update
• Neutral Sentiment: ConocoPhillips’ Q1 earnings-related coverage focused on comparing revenue, EPS, and key metrics with Wall Street estimates, with no major surprise highlighted in the summary provided. Zacks
• Neutral Sentiment: Shareholders approved board governance and auditors at the annual meeting, removing a routine governance overhang but not changing the core investment outlook. TipRanks

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Raymond James Financial lifted their price objective on shares of ConocoPhillips from $118.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, April 27th. Capital One Financial lifted their price objective on shares of ConocoPhillips from $116.00 to $156.00 and gave the company an "equal weight" rating in a research report on Thursday, March 26th. Wall Street Zen upgraded shares of ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 22nd. Finally, Mizuho lifted their price objective on shares of ConocoPhillips from $121.00 to $136.00 and gave the company an "outperform" rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.16.

Insider Transactions at ConocoPhillips

In related news, SVP Andrew D. Lundquist sold 34,500 shares of the firm's stock in a transaction on Friday, March 13th. The shares were 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 directly owned 17,469 shares of the company's stock, valued at approximately $2,090,689.92. This trade represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nicholas G. Olds sold 14,522 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total transaction of $1,733,345.92. Following the completion of the transaction, the executive vice president directly owned 12,389 shares of the company's stock, valued at approximately $1,478,751.04. This trade represents a 53.96% 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 valued at $93,345,692 in the last 90 days. Company insiders own 0.09% of the company's stock.

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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