ConocoPhillips $COP Stake Raised by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in ConocoPhillips (NYSE:COP) by 19.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,617 shares of the energy producer’s stock after buying an additional 17,207 shares during the quarter. Candriam S.C.A.’s holdings in ConocoPhillips were worth $13,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COP. State Street Corp boosted its position in ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after buying an additional 50,116,727 shares in the last quarter. BlackRock Inc. increased its holdings in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after buying an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after buying an additional 1,609,759 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of ConocoPhillips by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock valued at $1,457,978,000 after acquiring an additional 74,261 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in ConocoPhillips by 10.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock worth $1,344,017,000 after acquiring an additional 995,392 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.2%

COP opened at $134.60 on Tuesday. ConocoPhillips has a twelve month low of $85.70 and a twelve month high of $154.28. The company has a fifty day moving average of $137.00 and a 200-day moving average of $122.29. The stock has a market cap of $161.70 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.16. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.05 by $0.22. The business had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.59 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 11.84 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. ConocoPhillips’s dividend payout ratio is currently 35.29%.

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Freedom Capital raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Jefferies Financial Group upped their price objective on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $151.00 to $159.00 and gave the stock an “overweight” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $145.29.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ low-cost assets, LNG expansion and Willow project support its growth outlook. One analysis also noted the stock had rallied 54.4% this year, though it cautioned that this strength has left COP trading at a premium. ConocoPhillips Trades at a Premium: Is It the Right Time to Buy?
• Neutral Sentiment: Truist raised its price target from $136 to $142 but maintained a Hold rating, indicating measured rather than strong optimism. Truist Financial price target update
• Negative Sentiment: Valuation is a concern after COP’s substantial rally, which could limit near-term upside if investors view the shares as expensive. Zacks valuation analysis
• Negative Sentiment: Wells Fargo cut its price target, while a separate Seeking Alpha article flagged a rating downgrade, adding to the cautious analyst outlook. The provided reports did not specify the revised Wells Fargo target. Wells Fargo price target cut Seeking Alpha rating downgrade

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.