SteelPeak Wealth LLC Reduces Holdings in ConocoPhillips $COP

SteelPeak Wealth LLC cut its position in ConocoPhillips (NYSE:COP) by 97.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,837 shares of the energy producer’s stock after selling 77,343 shares during the quarter. SteelPeak Wealth LLC’s holdings in ConocoPhillips were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its stake in shares of ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares in the last quarter. D.A. Davidson & CO. lifted its stake in shares of ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after acquiring an additional 14,833 shares in the last quarter. Czech National Bank lifted its stake in shares of ConocoPhillips by 2.7% in the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after acquiring an additional 8,635 shares in the last quarter. BXM Wealth LLC boosted its holdings in ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock valued at $3,746,000 after purchasing an additional 34,961 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in ConocoPhillips by 17.6% in the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after purchasing an additional 61,361 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James Financial dropped their price objective on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a report on Monday, June 1st. Truist Financial reduced their target price on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Wolfe Research raised their price target on shares of ConocoPhillips from $138.00 to $144.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Morgan Stanley dropped their price target on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Finally, Piper Sandler upped their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.04.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

ConocoPhillips Stock Performance

Shares of COP opened at $114.70 on Monday. The stock has a market capitalization of $139.74 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.39 and a beta of 0.12. The business’s fifty day moving average price is $113.48 and its 200 day moving average price is $113.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Equities research analysts forecast that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s payout ratio is 57.05%.

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.