1,644,894 Shares of ConocoPhillips $COP Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ConocoPhillips (NYSE:COP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,644,894 shares of the energy producer’s stock, valued at approximately $205,858,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Aviance Capital Partners LLC increased its stake in ConocoPhillips by 4.1% during the third quarter. Aviance Capital Partners LLC now owns 28,779 shares of the energy producer’s stock worth $3,602,000 after acquiring an additional 1,146 shares during the last quarter. Northern Financial Advisors Inc acquired a new position in shares of ConocoPhillips in the 3rd quarter valued at $213,000. Vise Technologies Inc. lifted its stake in shares of ConocoPhillips by 19.5% in the 3rd quarter. Vise Technologies Inc. now owns 82,989 shares of the energy producer’s stock valued at $10,386,000 after purchasing an additional 13,525 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in shares of ConocoPhillips by 1.6% in the 3rd quarter. Grandfield & Dodd LLC now owns 39,113 shares of the energy producer’s stock valued at $4,895,000 after purchasing an additional 600 shares during the last quarter. Finally, Investment Partners LTD. purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $236,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

More ConocoPhillips News

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

ConocoPhillips Trading Up 2.7%

COP opened at $154.10 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $154.28. The business has a fifty day simple moving average of $136.14 and a 200-day simple moving average of $121.05. The firm has a market cap of $185.13 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.50 and a beta of 0.24. 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 issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company’s revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, equities analysts expect that ConocoPhillips will post 11.41 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated 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 transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on COP. Mizuho cut their price objective on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Morgan Stanley upped their target price on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Truist Financial lifted their price target on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

ConocoPhillips Company Profile

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.