JM2 Capital Inc. Buys New Holdings in ConocoPhillips $COP

JM2 Capital Inc. acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,170 shares of the energy producer’s stock, valued at approximately $772,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of ConocoPhillips by 73.2% during the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. Bank of America Corp DE bought a new position in ConocoPhillips in the second quarter valued at about $1,260,482,000. Primecap Management Co. CA bought a new position in ConocoPhillips in the second quarter valued at about $1,204,726,000. Legal & General Group Plc acquired a new position in ConocoPhillips during the second quarter worth about $716,151,000. Finally, Jupiter Topco LLC acquired a new position in ConocoPhillips during the second quarter worth about $427,954,000. 82.36% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction that occurred on 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 owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Trading Up 2.5%

Shares of COP stock opened at $141.02 on Wednesday. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. The stock’s fifty day simple moving average is $130.48 and its 200 day simple moving average is $122.15. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $169.42 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 10.84 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on COP shares. Jefferies Financial Group raised their price target on shares of 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 reiterated an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research report on Monday, August 24th. Seaport Research Partners assumed coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They set a “neutral” rating for the company. Truist Financial increased their price objective on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. Finally, Stifel Nicolaus began coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They issued a “hold” rating and a $148.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.