ConocoPhillips $COP Stock Position Lowered by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its position in ConocoPhillips (NYSE:COP) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,034,535 shares of the energy producer’s stock after selling 13,197 shares during the period. Great Lakes Advisors LLC’s holdings in ConocoPhillips were worth $96,843,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of COP. Capital International Investors raised its stake in shares of ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock worth $4,318,239,000 after buying an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of ConocoPhillips by 31.3% in the 3rd quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after buying an additional 2,467,555 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 20.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock worth $1,228,886,000 after buying an additional 2,216,010 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of ConocoPhillips in the 3rd quarter worth $135,265,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in shares of ConocoPhillips in the 4th quarter worth $128,470,000. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other news, EVP Nicholas G. Olds sold 6,994 shares of ConocoPhillips 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips 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 transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. This represents a 23.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 634,715 shares of company stock worth $81,410,816 in the last three months. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $115.41 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $140.60 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.33 and a beta of 0.11. The stock’s fifty day simple moving average is $120.86 and its 200 day simple moving average is $110.41. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87.

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

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Truist Financial set a $128.00 price objective on ConocoPhillips in a research note on Friday, May 1st. Jefferies Financial Group boosted their price objective on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Sanford C. Bernstein boosted their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Finally, Mizuho lifted their target price on ConocoPhillips from $136.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $134.48.

Key ConocoPhillips News

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

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.