&PARTNERS Grows Stake in ConocoPhillips $COP

Key Points

• &PARTNERS increased its stake in ConocoPhillips by 6.6% in the fourth quarter, buying 20,521 additional shares and bringing its total holding to 330,277 shares worth about $30.9 million.
• Wall Street sentiment remains mostly positive: analysts have given COP a Moderate Buy consensus, with 17 Buy ratings and a consensus price target of $134.48, while several firms recently raised their targets.
• ConocoPhillips posted better-than-expected quarterly earnings of $1.89 per share on $15.76 billion in revenue and also declared a quarterly dividend of $0.84 per share, implying a 3.0% annualized yield.

&PARTNERS raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 330,277 shares of the energy producer's stock after acquiring an additional 20,521 shares during the quarter. &PARTNERS's holdings in ConocoPhillips were worth $30,897,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter worth approximately $28,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter worth approximately $28,000. BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter worth approximately $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips during the 4th quarter worth approximately $34,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on COP shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Royal Bank Of Canada increased their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an "outperform" rating in a report on Wednesday, April 8th. Sanford C. Bernstein increased their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a report on Monday, April 13th. Capital One Financial decreased their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an "equal weight" rating on the stock in a report on Monday, May 18th. Finally, Barclays increased their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.48.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $111.22 on Wednesday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The stock has a market capitalization of $135.50 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.24 and a beta of 0.11. The company has a fifty day moving average of $119.87 and a 200-day moving average of $110.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP - Get Free Report) last announced 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. The company had revenue of $15.76 billion during the quarter, compared to analysts' expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities research analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared 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 of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.0%. ConocoPhillips's dividend payout ratio is presently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a deal with Syria’s state oil company and Novaterra to revive gas production and develop new fields, which could add long-term production opportunities and improve growth prospects. Syria signs deal with ConocoPhillips, Novaterra to revive gas production
• Positive Sentiment: Investors are also focused on ConocoPhillips’ Alaska North Slope strategy, including the Willow project, which could eventually add meaningful free cash flow if it reaches full production. This Top Oil Stock Expects an Unlikely Source to Help It Double Its Free Cash Flow by 2029.
• Neutral Sentiment: Energy-sector selling has been broad-based, with the NYSE Energy Sector Index falling in afternoon trading, suggesting COP’s move is being driven more by sector weakness than by a company-specific setback. Sector Update: Energy Stocks Decline Late Afternoon
• Negative Sentiment: Lower oil prices after the U.S.-Iran interim peace deal have weighed on ConocoPhillips and other oil producers, reducing near-term expectations for upstream earnings and cash flow. Oil Prices Slump, Exxon and Chevron Stocks Drop After Trump Iran Deal

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares of the company's stock, valued at $685,488.70. This represents a 56.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the 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 sale, the senior vice president directly owned 25,284 shares of the company's stock, valued at $3,287,678.52. The trade was a 23.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 634,715 shares of company stock valued at $81,410,816 in the last quarter. 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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