Meiji Yasuda America Inc Makes New $7.68 Million Investment in ConocoPhillips $COP

Meiji Yasuda America Inc purchased a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, Holdings Channel.com reports. The fund purchased 81,998 shares of the energy producer’s stock, valued at approximately $7,676,000. ConocoPhillips accounts for approximately 1.8% of Meiji Yasuda America Inc’s portfolio, making the stock its 15th biggest position.

A number of other large investors have also made changes to their positions in the stock. Duncan Williams Asset Management LLC lifted its position in shares of ConocoPhillips by 4.4% in the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock worth $222,000 after purchasing an additional 100 shares in the last quarter. Wedge Capital Management L L P NC raised its position in ConocoPhillips by 4.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after acquiring an additional 101 shares in the last quarter. Strategic Blueprint LLC raised its position in ConocoPhillips by 1.3% during the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock valued at $751,000 after acquiring an additional 101 shares in the last quarter. Chesapeake Wealth Management raised its position in ConocoPhillips by 1.5% during the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock valued at $670,000 after acquiring an additional 103 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC raised its position in ConocoPhillips by 4.5% during the fourth quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock valued at $226,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips joined TotalEnergies and QatarEnergy in an MoU with the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, which could create a new long-term exploration opportunity if the project advances. Article Title
• Positive Sentiment: Recent commentary on COP remains constructive overall, with some analysts highlighting the company’s resilience and others maintaining upbeat price targets, suggesting Wall Street still sees upside potential over time. Article Title
• Neutral Sentiment: Energy stocks broadly have been stronger this year, and the sector ETF’s gains show investors are still favoring oil and gas names despite recent pullbacks. Article Title
• Neutral Sentiment: ConocoPhillips reported solid last quarter results, beating EPS and revenue estimates, which continues to support the investment case even though year-over-year revenue declined.
• Negative Sentiment: Insider activity has been negative, with a recent director stock sale adding to a pattern of insider selling that can weigh on sentiment. Article Title
• Negative Sentiment: One recent article framed COP as vulnerable to additional market weakness, reinforcing concerns that the stock could stay tied to crude-price moves if oil sentiment softens further. Article Title

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a research report on Friday, May 1st. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Barclays increased their price target on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada increased their price target on ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. Seventeen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Trading Down 3.8%

Shares of COP stock opened at $115.41 on Friday. The business’s 50 day moving average is $120.86 and its two-hundred day moving average is $110.41. The company has a market cap of $140.60 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. ConocoPhillips’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the company posted $2.09 earnings per share. Equities 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. Stockholders of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Insider Transactions at ConocoPhillips

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the firm’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares in the company, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at approximately $685,488.70. The trade was a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 634,715 shares of company stock worth $81,410,816. Insiders own 0.09% of the company’s stock.

ConocoPhillips Company 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.