Storgate LLC Makes New $958,000 Investment in ConocoPhillips $COP

Storgate LLC purchased a new stake in ConocoPhillips (NYSE:COP) during the 4th quarter, Holdings Channel reports. The fund purchased 10,234 shares of the energy producer’s stock, valued at approximately $958,000. ConocoPhillips accounts for approximately 0.8% of Storgate LLC’s investment portfolio, making the stock its 15th biggest holding.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of ConocoPhillips by 14.7% in the third quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after purchasing an additional 298,245 shares during the last quarter. Natixis Advisors LLC grew its position in shares of ConocoPhillips by 8.7% in the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after purchasing an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of ConocoPhillips by 31.2% in the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after purchasing an additional 20,501 shares during the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $1,892,000. Finally, D.A. Davidson & CO. grew its position in shares of ConocoPhillips by 10.5% in the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after purchasing an additional 14,833 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP opened at $116.59 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market capitalization of $142.04 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.28 and a beta of 0.11. The company’s 50 day simple moving average is $120.62 and its 200 day simple moving average is $110.46. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

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

ConocoPhillips Dividend Announcement

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

Analyst Upgrades and Downgrades

COP has been the topic of several recent analyst reports. Barclays upped their price objective on shares of ConocoPhillips from $136.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Capital One Financial reduced their price objective on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Piper Sandler upped their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Mizuho upped their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Argus upped their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the transaction, the senior vice president owned 25,284 shares of the company’s stock, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Michael Lance sold 506,800 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $127.26, for a total transaction of $64,495,368.00. Following the transaction, the chief executive officer directly owned 6,835 shares in the company, valued at approximately $869,822.10. This represents a 98.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 634,715 shares of company stock valued at $81,410,816 over the last quarter. Company insiders own 0.09% of the company’s stock.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here’s Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

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.