ConocoPhillips $COP Stock: Retirement Systems of Alabama Reduces Holdings

Retirement Systems of Alabama lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 722,404 shares of the energy producer’s stock after selling 4,008 shares during the quarter. Retirement Systems of Alabama owned approximately 0.06% of ConocoPhillips worth $90,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in COP. Fulcrum Asset Management LLP increased its position in ConocoPhillips by 11,958.3% during the third quarter. Fulcrum Asset Management LLP now owns 5,788 shares of the energy producer’s stock worth $726,000 after buying an additional 5,740 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ConocoPhillips by 3.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 840,683 shares of the energy producer’s stock valued at $106,817,000 after buying an additional 28,267 shares in the last quarter. StoneRidge PMG Advisors LLC bought a new position in ConocoPhillips during the third quarter valued at about $284,000. Beverly Hills Private Wealth LLC lifted its position in shares of ConocoPhillips by 37.2% in the third quarter. Beverly Hills Private Wealth LLC now owns 3,310 shares of the energy producer’s stock worth $414,000 after buying an additional 898 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC lifted its position in shares of ConocoPhillips by 0.3% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 116,088 shares of the energy producer’s stock worth $14,528,000 after buying an additional 366 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on COP shares. Raymond James Financial reiterated an “outperform” rating and set a $170.00 price target on shares of ConocoPhillips in a research note on Monday, November 2nd. Stifel Nicolaus initiated coverage on ConocoPhillips in a research note on Thursday, September 10th. They issued a “hold” rating and a $148.00 price objective on the stock. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Argus upped their target price on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, William Blair initiated coverage on ConocoPhillips in a research report on Wednesday, October 28th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.29.

Key ConocoPhillips News

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

ConocoPhillips Stock Down 1.2%

ConocoPhillips stock opened at $134.60 on Tuesday. The firm has a market cap of $161.70 billion, a price-to-earnings ratio of 14.14, a P/E/G ratio of 1.29 and a beta of 0.16. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a fifty-two week low of $85.70 and a fifty-two week high of $154.28. The firm has a fifty day moving average price of $137.00 and a two-hundred day moving average price of $122.29.

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

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.8%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.84. ConocoPhillips’s payout ratio is presently 35.29%.

ConocoPhillips Company 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.