ConocoPhillips $COP Stock: Red Cedar Investment Management LLC Decreases Holdings

Red Cedar Investment Management LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 23.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,723 shares of the energy producer’s stock after selling 7,205 shares during the period. Red Cedar Investment Management LLC’s holdings in ConocoPhillips were worth $2,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in COP. State Street Corp lifted its position in 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 acquiring an additional 50,116,727 shares during the period. BlackRock Inc. grew its stake in shares of ConocoPhillips by 3.0% in the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of ConocoPhillips by 12.0% in the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after purchasing an additional 1,609,759 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $1,260,482,000. Finally, Primecap Management Co. CA acquired a new position in shares of ConocoPhillips in the second quarter valued at approximately $1,204,726,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ low-cost assets, LNG expansion and Willow project support its growth outlook. One analysis also noted the stock had rallied 54.4% this year, though it cautioned that this strength has left COP trading at a premium. ConocoPhillips Trades at a Premium: Is It the Right Time to Buy?
• Neutral Sentiment: Truist raised its price target from $136 to $142 but maintained a Hold rating, indicating measured rather than strong optimism. Truist Financial price target update
• Negative Sentiment: Valuation is a concern after COP’s substantial rally, which could limit near-term upside if investors view the shares as expensive. Zacks valuation analysis
• Negative Sentiment: Wells Fargo cut its price target, while a separate Seeking Alpha article flagged a rating downgrade, adding to the cautious analyst outlook. The provided reports did not specify the revised Wells Fargo target. Wells Fargo price target cut Seeking Alpha rating downgrade

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COP shares. The Goldman Sachs Group restated a “buy” rating and set a $157.00 price target on shares of ConocoPhillips in a research note on Tuesday, October 20th. UBS Group reiterated an “outperform” rating on shares of ConocoPhillips in a research report on Monday, November 2nd. Susquehanna boosted 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. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus assumed coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.29.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $134.60 on Tuesday. ConocoPhillips has a one year low of $85.70 and a one year 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. The business has a fifty day moving average of $137.00 and a two-hundred day moving average of $122.29. The company has a market cap of $161.70 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.16.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.05 by $0.22. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’s revenue was up 29.2% on a year-over-year basis. As a group, analysts predict that ConocoPhillips will post 11.84 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.8%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. The ex-dividend date is Monday, November 16th. ConocoPhillips’s dividend payout ratio (DPR) is 35.29%.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were 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 of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.09% of the company’s stock.

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.