Invesco Ltd. Acquires 290,888 Shares of ConocoPhillips $COP

Invesco Ltd. raised its holdings in ConocoPhillips (NYSE:COP) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 13,413,036 shares of the energy producer’s stock after purchasing an additional 290,888 shares during the quarter. Invesco Ltd.’s holdings in ConocoPhillips were worth $1,255,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AXA S.A. increased its stake in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after buying an additional 40,499 shares in the last quarter. Sei Investments Co. lifted its position in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after buying an additional 44,852 shares in the last quarter. BNP Paribas acquired a new position in ConocoPhillips during the 2nd quarter worth about $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips during the 2nd quarter worth about $151,000. Finally, Main Street Financial Solutions LLC grew its holdings in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after acquiring an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on COP. Raymond James Financial dropped their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein raised their price target on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Citigroup boosted their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Truist Financial set a $128.00 price objective on ConocoPhillips in a report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $134.48.

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nicholas G. Olds sold 6,994 shares of ConocoPhillips stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This trade represents a 56.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 127,915 shares of company stock valued at $16,915,448. Company insiders own 0.09% of the company’s stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

ConocoPhillips Stock Down 3.0%

Shares of NYSE COP opened at $107.92 on Friday. The firm has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm’s 50-day moving average is $118.99 and its 200-day moving average is $111.27.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 earnings per share. Equities analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

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.