ConocoPhillips $COP Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC lessened its holdings in ConocoPhillips (NYSE:COP) by 24.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,783 shares of the energy producer’s stock after selling 3,469 shares during the quarter. VestGen Advisors LLC’s holdings in ConocoPhillips were worth $1,349,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of ConocoPhillips by 73.2% during the second 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 last quarter. Bank of America Corp DE bought a new position in ConocoPhillips in the 2nd quarter valued at about $1,260,482,000. Primecap Management Co. CA bought a new stake in shares of ConocoPhillips during the 2nd quarter worth about $1,204,726,000. Assenagon Asset Management S.A. raised its position in shares of ConocoPhillips by 1,181.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,172,490 shares of the energy producer’s stock worth $1,022,787,000 after buying an additional 7,534,536 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $716,151,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

Wall Street Analyst Weigh In

Several research firms have recently issued reports on COP. The Goldman Sachs Group reiterated a “buy” rating and issued a $157.00 price objective on shares of ConocoPhillips in a report on Tuesday, October 20th. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. UBS Group increased their price target on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a research note on Monday, September 14th. William Blair assumed coverage on ConocoPhillips in a research report on Wednesday. They set a “market perform” rating on the stock. Finally, Piper Sandler initiated coverage on ConocoPhillips in a research note on Tuesday. They issued a “neutral” rating and a $157.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Insider Activity at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction that occurred 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 $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $154.10 on Friday. ConocoPhillips has a one year low of $85.57 and a one year high of $154.28. The stock has a fifty day moving average of $136.14 and a 200-day moving average of $121.05. The company has a market capitalization of $185.13 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 11.42 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

About ConocoPhillips

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

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.