Pacer Advisors Inc. Sells 269,022 Shares of ConocoPhillips $COP

Pacer Advisors Inc. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,457,750 shares of the energy producer’s stock after selling 269,022 shares during the quarter. ConocoPhillips accounts for approximately 0.6% of Pacer Advisors Inc.’s holdings, making the stock its 27th biggest holding. Pacer Advisors Inc. owned approximately 0.36% of ConocoPhillips worth $417,290,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after acquiring an additional 408,304 shares during the period. Capital International Investors grew its position in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the period. Franklin Resources Inc. increased its stake in ConocoPhillips by 4.5% in the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC lifted its position in ConocoPhillips by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock valued at $1,389,862,000 after purchasing an additional 193,401 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Transactions at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 127,915 shares of company stock valued at $16,915,448. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on COP. Piper Sandler increased their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Susquehanna upped their price target on shares of ConocoPhillips from $149.00 to $152.00 in a report on Friday, May 1st. Barclays upped their price target on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Truist Financial set a $128.00 price target on shares of ConocoPhillips in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their price objective on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.48.

Key Stories Impacting ConocoPhillips

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 Price Performance

COP opened at $107.92 on Friday. 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 has a 52-week low of $85.57 and a 52-week high of $135.87. The stock 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 stock’s 50 day moving average price is $118.99 and its 200-day moving average price is $111.27.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 earnings per share. On average, equities research analysts predict that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio is 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.