Kestra Investment Management LLC lowered its position in shares of ConocoPhillips (NYSE:COP – Free Report) by 52.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,537 shares of the energy producer’s stock after selling 4,965 shares during the period. Kestra Investment Management LLC’s holdings in ConocoPhillips were worth $568,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. AlphaCore Capital LLC increased its position in ConocoPhillips by 53.2% during the 3rd quarter. AlphaCore Capital LLC now owns 20,120 shares of the energy producer’s stock valued at $2,518,000 after purchasing an additional 6,990 shares during the period. Fulcrum Asset Management LLP raised its holdings in shares of ConocoPhillips by 11,958.3% in the 3rd quarter. Fulcrum Asset Management LLP now owns 5,788 shares of the energy producer’s stock valued at $726,000 after purchasing an additional 5,740 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ConocoPhillips by 3.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 840,683 shares of the energy producer’s stock valued at $106,817,000 after purchasing an additional 28,267 shares in the last quarter. StoneRidge PMG Advisors LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $284,000. Finally, Beverly Hills Private Wealth LLC lifted its position in shares of ConocoPhillips by 37.2% in the 3rd quarter. Beverly Hills Private Wealth LLC now owns 3,310 shares of the energy producer’s stock worth $414,000 after purchasing an additional 898 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.
ConocoPhillips Stock Performance
COP stock opened at $137.75 on Thursday. ConocoPhillips has a one year low of $85.70 and a one year high of $154.28. The firm has a market cap of $162.87 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.25 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.52. The firm has a 50-day simple moving average of $137.10 and a two-hundred day simple moving average of $122.68.
ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.22. The firm had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.61 EPS. On average, equities analysts forecast that ConocoPhillips will post 12.09 EPS for the current fiscal year.
ConocoPhillips Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 2.7%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. The ex-dividend date is Monday, November 16th. ConocoPhillips’s payout ratio is 39.08%.
Analysts Set New Price Targets
COP has been the topic of a number of recent research reports. Stifel Nicolaus began coverage on shares of ConocoPhillips in a research note on Thursday, September 10th. They set a “hold” rating and a $148.00 price objective on the stock. Mizuho set a $149.00 price objective on shares of ConocoPhillips in a report on Thursday, November 5th. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, November 6th. Jefferies Financial Group upped their target price on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research report on Thursday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $144.69.
Read Our Latest Stock Analysis on COP
Insiders Place Their Bets
In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips 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. The trade was a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by company insiders.
Recent ConocoPhillips Headlines
Here are a few of the latest headlines about COP:
- Positive Sentiment: ConocoPhillips raised its quarterly dividend by 10.7%, adding to shareholder returns. The increase is encouraging, though investors will weigh whether free cash flow can sustain the payout. Article: ConocoPhillips Just Raised Its Dividend 10.7%. Does Its Free Cash Flow Cover the 2.5% Yield?
- Neutral Sentiment: The company expects to spend modestly less on capital projects in 2027 while pursuing production growth through low-cost assets and efficiency gains. This could support cash flow, but investors will look for evidence that the plan can deliver growth despite lower spending. Article: Can ConocoPhillips Sustain Future Production Growth With Lower CapEx?
- Negative Sentiment: Freedom Broker lowered its rating from “buy” to “hold.” Although it raised its price target to $138 from $122, that target implies little upside from the cited $137.75 share price, signaling limited near-term valuation potential. Article: Freedom Broker rating information
About ConocoPhillips
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.
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