NewEdge Wealth LLC Purchases New Shares in ConocoPhillips $COP

NewEdge Wealth LLC acquired a new stake in ConocoPhillips (NYSE:COP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,977 shares of the energy producer’s stock, valued at approximately $2,285,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of ConocoPhillips by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after buying an additional 408,304 shares during the last quarter. BlackRock Inc. grew its holdings in ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after acquiring an additional 2,712,703 shares during the last quarter. Capital International Investors grew its holdings in ConocoPhillips by 5.9% during the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after acquiring an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of ConocoPhillips by 4.5% in the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after acquiring an additional 648,432 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Rising crude prices are supporting ConocoPhillips’ expected cash flow and earnings, providing the clearest near-term catalyst for the stock. ConocoPhillips gains as higher oil prices add to post-earnings momentum
• Positive Sentiment: Second-quarter adjusted earnings of $3.24 per share exceeded expectations, while $7.2 billion in operating cash flow, doubled share repurchases and a $0.84 quarterly dividend reinforced the company’s capital-return appeal. Full-year guidance was reaffirmed.
• Positive Sentiment: Argus raised its price target to $153 from $136 and maintained a Buy rating. The broader analyst consensus remains constructive, with a reported median target of $146 and no recent sell ratings. Argus raises ConocoPhillips price target
• Positive Sentiment: Analysts and investors continue to cite ConocoPhillips’ low-cost inventory, LNG-related growth and potential cash-flow catalysts as support for its longer-term outlook. ConocoPhillips has low-cost inventory and a major cash flow catalyst ahead
• Neutral Sentiment: Aker BP’s agreement to acquire Apache and ConocoPhillips stakes offshore Norway could streamline the portfolio, although the immediate financial effect was not specified. Aker BP to buy Apache and ConocoPhillips stakes offshore Norway
• Negative Sentiment: Valuation and execution risks are tempering the bullish outlook: the stock trades near its 52-week high, while investors are already paying a premium for earnings momentum and LNG growth. Is ConocoPhillips stock a buy as growth meets a premium valuation?
• Negative Sentiment: Insiders have reported 12 open-market sales and no purchases over the past six months, including substantial sales by senior executives. This may signal caution, although insider transactions can reflect compensation or diversification rather than a fundamental view.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $135.00 on Friday. 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 has a 1 year low of $85.57 and a 1 year high of $135.87. The company has a market cap of $162.18 billion, a PE ratio of 17.86, a PEG ratio of 1.44 and a beta of 0.11. The company’s 50-day moving average is $114.92 and its two-hundred day moving average is $117.53.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. Equities analysts anticipate that ConocoPhillips will post 10.06 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on COP shares. Raymond James Financial reduced their target price on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Capital One Financial lowered their price target 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. The Goldman Sachs Group dropped their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Argus upped their price objective on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley increased their price objective on ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $139.21.

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.