13,442 ConocoPhillips $COP Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp trimmed its position in shares of ConocoPhillips (NYSE:COP) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,975 shares of the energy producer’s stock after selling 13,442 shares during the period. Heritage Investors Management Corp’s holdings in ConocoPhillips were worth $22,023,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Hubbell Strickland Wealth Management LLC bought a new position in ConocoPhillips during the 3rd quarter valued at $225,000. Nippon Life Global Investors Americas Inc. increased its position in shares of ConocoPhillips by 70.4% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 65,290 shares of the energy producer’s stock worth $8,171,000 after purchasing an additional 26,980 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $48,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of ConocoPhillips in the 3rd quarter worth about $205,858,000. Finally, Aviance Capital Partners LLC raised its stake in shares of ConocoPhillips by 4.1% in the 3rd quarter. Aviance Capital Partners LLC now owns 28,779 shares of the energy producer’s stock valued at $3,602,000 after purchasing an additional 1,146 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 0.0%

NYSE:COP opened at $154.10 on Monday. The firm has a market capitalization of $185.13 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.16. The stock has a 50 day moving average of $136.14 and a 200-day moving average of $121.05. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $154.28. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter last year, the business posted $1.42 EPS. The business’s revenue was up 32.4% on a year-over-year basis. Analysts predict that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.2%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COP. William Blair assumed coverage on shares of ConocoPhillips in a research report on Wednesday. They set a “market perform” rating on the stock. Raymond James Financial reissued an “outperform” rating on shares of ConocoPhillips in a report on Monday. Argus boosted their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $157.00 target price on shares of ConocoPhillips in a report on Tuesday, October 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.