State of Wisconsin Investment Board Has $61.61 Million Stock Holdings in ConocoPhillips $COP

State of Wisconsin Investment Board decreased its stake in ConocoPhillips (NYSE:COP) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 658,190 shares of the energy producer’s stock after selling 62,182 shares during the period. State of Wisconsin Investment Board’s holdings in ConocoPhillips were worth $61,613,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 113,221 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares of the company’s stock, 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. Over the last quarter, insiders sold 634,715 shares of company stock valued at $81,410,816. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $111.22 on Wednesday. ConocoPhillips has a 52-week low of $85.57 and a 52-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 business’s 50 day moving average price is $119.87 and its two-hundred day moving average price is $110.97. The firm has a market cap of $135.50 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.24 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 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 firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter last year, the firm posted $2.09 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities analysts anticipate that ConocoPhillips will post 10.03 EPS 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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a memorandum of understanding with TotalEnergies, QatarEnergy and the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, adding a new potential upstream growth area. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: The Syria gas deal could help restart production at existing fields and open up new reserves, supporting ConocoPhillips’ longer-term international portfolio and cash flow growth. Syria signs deal with ConocoPhillips, Novaterra to revive gas production
• Neutral Sentiment: Market commentary suggests ConocoPhillips’ Alaska Willow project could materially boost free cash flow over time, but the benefits are still years away and are unlikely to affect the stock immediately. This Top Oil Stock Expects an Unlikely Source to Help It Double Its Free Cash Flow by 2029.
• Negative Sentiment: Energy stocks fell as oil prices weakened after the U.S.–Iran deal, and ConocoPhillips was caught in the broader sector selloff. Sector Update: Energy Stocks Decline Tuesday Afternoon
• Negative Sentiment: Lower oil prices are a headwind for ConocoPhillips because the company’s profits and valuation are closely tied to commodity prices, and traders have been betting on more downside in the stock. How A U.S.–Iran Peace Deal And Syrian Gas Restart At ConocoPhillips (COP) Has Changed Its Investment Story

Analyst Ratings Changes

Several equities research analysts have recently weighed in on COP shares. Piper Sandler increased their price target on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Argus lifted their target price on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Raymond James Financial dropped their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research note on Monday, June 1st. Truist Financial set a $128.00 price target on ConocoPhillips in a research note on Friday, May 1st. Finally, Susquehanna boosted their price target on ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips 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.