Wellspring Financial Advisors LLC Invests $689,000 in ConocoPhillips $COP

Wellspring Financial Advisors LLC bought a new position in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 7,356 shares of the energy producer’s stock, valued at approximately $689,000.

A number of other institutional investors also recently modified their holdings of COP. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of ConocoPhillips during the third quarter worth about $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $28,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at approximately $28,000. BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter valued at approximately $33,000. Finally, Optima Capital LLC bought a new stake in ConocoPhillips during the 4th quarter valued at approximately $34,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial set a $128.00 price objective on ConocoPhillips in a research report on Friday, May 1st. Capital One Financial lowered their target price on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. Royal Bank Of Canada lifted their target price on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Scotiabank boosted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips Trading Up 2.6%

Shares of COP stock opened at $119.82 on Thursday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm has a fifty day moving average price of $121.19 and a 200-day moving average price of $110.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market cap of $145.98 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.29 and a beta of 0.11.

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

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s payout ratio is presently 57.05%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Crude-oil sentiment improved as Middle East supply disruptions and tight inventory conditions kept a floor under oil prices, benefiting large U.S. exploration and production names like ConocoPhillips. Article Title
• Positive Sentiment: Zacks highlighted ConocoPhillips as an energy name positioned to navigate industry pressures, reinforcing the view that COP is relatively well placed versus peers. Article Title
• Positive Sentiment: Broader energy-sector strength has helped improve sentiment toward oil stocks, with the sector outperforming the market this year and drawing renewed investor attention to names like COP. Article Title
• Neutral Sentiment: Recent commentary noted that ConocoPhillips did not fall as much as oil prices during a prior pullback, suggesting the stock may be trading more resiliently than crude itself, but without a major company-specific catalyst. Article Title
• Negative Sentiment: There was also a backdrop of mixed investor positioning, including significant institutional trimming in recent quarters, which can weigh on sentiment even as near-term oil prices improve. Article Title

Insider Activity

In related news, SVP Heather G. Hrap sold 2,654 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the transaction, the senior vice president owned 5,663 shares of the company’s stock, valued at approximately $677,747.84. This represents a 31.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the completion of the transaction, the chief executive officer directly owned 350,000 shares of the company’s stock, valued at $46,448,500. This represents a 24.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 671,869 shares of company stock worth $85,857,406. Company insiders own 0.09% of the company’s stock.

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.