Storgate LLC Takes $958,000 Position in ConocoPhillips $COP

Key Points

• Storgate LLC initiated a new position in ConocoPhillips, buying 10,234 shares worth about $958,000 in the fourth quarter. The stake now represents roughly 0.8% of Storgate’s portfolio.
• ConocoPhillips reported stronger-than-expected quarterly earnings, posting EPS of $1.89 versus the $1.72 consensus estimate, while revenue came in at $15.76 billion. The company also maintained solid profitability and a low debt-to-equity ratio of 0.34.
• The stock continues to draw bullish Wall Street coverage, with analysts giving it a consensus “Moderate Buy” and an average price target of $134.48. The company also pays a quarterly dividend of $0.84 per share, equal to a 2.9% yield.

Storgate LLC bought a new stake in ConocoPhillips (NYSE:COP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,234 shares of the energy producer's stock, valued at approximately $958,000. ConocoPhillips comprises approximately 0.8% of Storgate LLC's holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Board of the Pension Protection Fund purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $28,000. Strive Asset Management LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. BNP Paribas purchased a new stake in shares of ConocoPhillips in the second quarter valued at about $33,000. Finally, Optima Capital LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at about $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.1%

Shares of ConocoPhillips stock opened at $116.59 on Friday. ConocoPhillips has a 52-week low of $85.57 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 company's 50-day simple moving average is $120.62 and its 200-day simple moving average is $110.46. The firm has a market cap of $142.04 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.28 and a beta of 0.11.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $15.62 billion. During the same period 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, equities research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced 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. This represents a $3.36 annualized dividend and a yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips's dividend payout ratio is presently 57.05%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here's Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the company's stock in a transaction dated 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 directly owned 25,284 shares in the company, valued at approximately $3,287,678.52. This represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the company's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the transaction, the executive vice president owned 5,395 shares in the company, valued at $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 634,715 shares of company stock worth $81,410,816. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on COP shares. Argus upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a "buy" rating in a report on Friday, May 15th. Mizuho upped their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, May 27th. Sanford C. Bernstein boosted their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the stock an "outperform" rating in a research note on Monday, April 13th. Royal Bank Of Canada boosted their price target on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 8th. Finally, Citigroup boosted their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of "Moderate Buy" and an average price target of $134.48.

About ConocoPhillips

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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