Taikang Asset Management Hong Kong Co Ltd Purchases 25,709 Shares of ConocoPhillips $COP

Taikang Asset Management Hong Kong Co Ltd lifted its position in shares of ConocoPhillips (NYSE:COP) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,480 shares of the energy producer’s stock after purchasing an additional 25,709 shares during the period. ConocoPhillips accounts for approximately 1.1% of Taikang Asset Management Hong Kong Co Ltd’s investment portfolio, making the stock its 24th biggest holding. Taikang Asset Management Hong Kong Co Ltd’s holdings in ConocoPhillips were worth $10,623,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in COP. Capital International Investors grew its position in ConocoPhillips by 18.2% during the third 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 grew its position in ConocoPhillips by 31.3% during the third 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. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after buying an additional 2,350,645 shares in the last quarter. Ameriprise Financial Inc. grew its position in ConocoPhillips by 20.6% during the third 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. Finally, Alyeska Investment Group L.P. acquired a new stake in ConocoPhillips during the third quarter worth approximately $135,265,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a memorandum of understanding with TotalEnergies, QatarEnergy and the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, adding a new potential upstream growth area. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: The Syria gas deal could help restart production at existing fields and open up new reserves, supporting ConocoPhillips’ longer-term international portfolio and cash flow growth. Syria signs deal with ConocoPhillips, Novaterra to revive gas production
• Neutral Sentiment: Market commentary suggests ConocoPhillips’ Alaska Willow project could materially boost free cash flow over time, but the benefits are still years away and are unlikely to affect the stock immediately. This Top Oil Stock Expects an Unlikely Source to Help It Double Its Free Cash Flow by 2029.
• Negative Sentiment: Energy stocks fell as oil prices weakened after the U.S.–Iran deal, and ConocoPhillips was caught in the broader sector selloff. Sector Update: Energy Stocks Decline Tuesday Afternoon
• Negative Sentiment: Lower oil prices are a headwind for ConocoPhillips because the company’s profits and valuation are closely tied to commodity prices, and traders have been betting on more downside in the stock. How A U.S.–Iran Peace Deal And Syrian Gas Restart At ConocoPhillips (COP) Has Changed Its Investment Story

Insider Activity

In related news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’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 transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. This trade represents a 56.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 634,715 shares of company stock valued at $81,410,816. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Trading Down 0.9%

Shares of COP stock opened at $111.22 on Wednesday. The firm has a market capitalization of $135.50 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.24 and a beta of 0.11. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $135.87. 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’s fifty day simple moving average is $119.87 and its 200 day simple moving average is $110.97.

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, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same period last year, the company earned $2.09 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.0%. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James Financial reduced their price target on ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Barclays raised their target price on ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Argus raised their target price on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Sanford C. Bernstein raised their target price on ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Capital One Financial reduced their target price on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a report on Monday, May 18th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $134.48.

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.