Swiss National Bank Decreases Holdings in ConocoPhillips $COP

Swiss National Bank trimmed its position in shares of ConocoPhillips (NYSE:COP) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,422,470 shares of the energy producer’s stock after selling 216,600 shares during the period. Swiss National Bank owned about 0.28% of ConocoPhillips worth $320,377,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. KERR FINANCIAL PLANNING Corp purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. Board of the Pension Protection Fund purchased a new position in shares of ConocoPhillips during the 4th quarter valued at about $28,000. Strive Asset Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter valued at about $28,000. BNP Paribas purchased a new position in shares of ConocoPhillips during the 2nd quarter valued at about $33,000. Finally, Optima Capital LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at about $34,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $115.41 on Friday. The firm has a market cap of $140.60 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.33 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $120.86 and its two-hundred day simple moving average is $110.41.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. As a group, equities analysts expect that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is 57.05%.

Insiders Place Their Bets

In other news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. The trade was a 23.34% 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. Also, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total value of $15,025,558.91. Following the transaction, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This trade represents a 24.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 634,715 shares of company stock valued at $81,410,816 in the last quarter. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Freedom Capital cut ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Roth Mkm cut ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, February 17th. Scotiabank raised their price objective on ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Piper Sandler raised their price objective on ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Truist Financial set a $128.00 price objective on ConocoPhillips in a report on Friday, May 1st. Seventeen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.48.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips joined TotalEnergies and QatarEnergy in an MoU with the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, which could create a new long-term exploration opportunity if the project advances. Article Title
• Positive Sentiment: Recent commentary on COP remains constructive overall, with some analysts highlighting the company’s resilience and others maintaining upbeat price targets, suggesting Wall Street still sees upside potential over time. Article Title
• Neutral Sentiment: Energy stocks broadly have been stronger this year, and the sector ETF’s gains show investors are still favoring oil and gas names despite recent pullbacks. Article Title
• Neutral Sentiment: ConocoPhillips reported solid last quarter results, beating EPS and revenue estimates, which continues to support the investment case even though year-over-year revenue declined.
• Negative Sentiment: Insider activity has been negative, with a recent director stock sale adding to a pattern of insider selling that can weigh on sentiment. Article Title
• Negative Sentiment: One recent article framed COP as vulnerable to additional market weakness, reinforcing concerns that the stock could stay tied to crude-price moves if oil sentiment softens further. Article Title

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.