ConocoPhillips $COP Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,700 shares of the energy producer’s stock after selling 5,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ConocoPhillips were worth $16,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC raised its holdings in shares of ConocoPhillips by 56.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 29,885 shares of the energy producer’s stock valued at $3,740,000 after purchasing an additional 10,779 shares in the last quarter. Founders Financial Securities LLC boosted its holdings in ConocoPhillips by 1.4% in the third quarter. Founders Financial Securities LLC now owns 16,030 shares of the energy producer’s stock worth $2,006,000 after purchasing an additional 218 shares in the last quarter. Harbour Trust & Investment Management Co acquired a new position in ConocoPhillips during the third quarter worth $217,000. Interchange Capital Partners LLC acquired a new position in ConocoPhillips during the third quarter worth $245,000. Finally, Livelsberger Financial Advisory acquired a new position in ConocoPhillips during the third quarter worth $173,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler assumed coverage on ConocoPhillips in a research report on Tuesday, October 27th. They issued a “neutral” rating and a $157.00 price target for the company. Wells Fargo & Company upped their price target on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Susquehanna increased their price objective on ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a report on Tuesday, October 20th. Morgan Stanley raised their price objective on ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.00.

ConocoPhillips Price Performance

NYSE:COP opened at $154.10 on Friday. The company has a 50-day moving average of $136.14 and a 200-day moving average of $121.05. The company has a market capitalization of $185.13 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.50 and a beta of 0.24. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $154.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share 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 return on equity of 14.72% and a net margin of 14.22%. The company’s revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 11.41 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Key Headlines Impacting ConocoPhillips

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

About ConocoPhillips

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.