ConocoPhillips $COP Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,022 shares of the energy producer’s stock after buying an additional 17,954 shares during the quarter. Kestra Advisory Services LLC’s holdings in ConocoPhillips were worth $30,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Carolina Wealth Advisors LLC bought a new position in shares of ConocoPhillips in the 3rd quarter worth about $28,000. Frazier Financial Advisors LLC grew its stake in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC acquired a new stake in ConocoPhillips during the second quarter worth approximately $32,000. William Mack & Associates Inc. bought a new stake in ConocoPhillips in the third quarter worth approximately $34,000. Finally, Evergreen Advisors LLC bought a new stake in ConocoPhillips in the first quarter worth approximately $36,000. Institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Jefferies Financial Group boosted their price target on ConocoPhillips from $159.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, October 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $170.00 price objective on shares of ConocoPhillips in a research report on Monday, November 2nd. Susquehanna lifted their price objective on shares of ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a research note on Tuesday, October 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $157.00 target price on shares of ConocoPhillips in a research report on Tuesday, October 20th. Finally, Truist Financial increased their target price on shares of ConocoPhillips from $130.00 to $136.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.04.

ConocoPhillips Stock Up 0.7%

COP stock traded up $0.92 during trading on Friday, reaching $136.38. 7,656,178 shares of the stock were exchanged, compared to its average volume of 5,991,996. The firm’s 50 day moving average is $136.92 and its 200 day moving average is $122.10. The firm has a market cap of $163.84 billion, a P/E ratio of 14.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.16. 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 twelve month low of $85.59 and a twelve month high of $154.28.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.59 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 11.81 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a dividend of $0.93 per share. The ex-dividend date is Monday, November 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a yield of 2.7%. ConocoPhillips’s dividend payout ratio is currently 44.44%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong Q3 results: ConocoPhillips reported adjusted earnings of $3.27 per share, above estimates, as higher realized commodity prices helped more than double earnings year over year. Revenue also topped expectations, and operating cash flow reached $7.2 billion. Article: ConocoPhillips Q3 Earnings Beat Estimates on Higher Commodity Prices
• Positive Sentiment: Higher shareholder payout and cash-flow ambitions: The company increased its quarterly dividend about 11%, to $0.93 per share. Management also reiterated a plan for roughly $7 billion in additional free cash flow by 2029, supported by lower capital spending, production growth and shareholder returns. Article: Is ConocoPhillips a Buy After Its Latest Earnings Report?
• Positive Sentiment: Willow project progress: The Alaska project is approaching a key milestone, with drilling targeted for 2027, supporting the company’s future production outlook. Article: ConocoPhillips eyes Willow drilling in 2027 as Alaska project reaches key milestone
• Neutral Sentiment: Analyst view remains favorable, but one target was trimmed: Wells Fargo lowered its price target from $189 to $185 while retaining an Overweight rating. Article: Wells Fargo recommendations
• Negative Sentiment: Production and price sensitivity: Output declined in the quarter, even as higher oil prices boosted results. That leaves earnings and cash returns exposed if commodity prices retreat. ETFs were also net sellers of about $22.9 million of COP shares on Nov. 4, a modest near-term pressure. Article: ETFs Are Net Sellers of ConocoPhillips

ConocoPhillips Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.