ConocoPhillips $COP Stock Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lifted its position in ConocoPhillips (NYSE:COP) by 25.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 160,324 shares of the energy producer’s stock after buying an additional 32,302 shares during the period. First Citizens Bank & Trust Co.’s holdings in ConocoPhillips were worth $22,143,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in ConocoPhillips by 73.2% in the 2nd 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. BlackRock Inc. boosted its stake in ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP boosted its stake in ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after purchasing an additional 1,609,759 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ConocoPhillips by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock worth $1,457,978,000 after purchasing an additional 74,261 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of ConocoPhillips by 10.8% in the 1st quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock worth $1,344,017,000 after purchasing an additional 995,392 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction 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 approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

COP has been the subject of several recent analyst reports. Truist Financial boosted their price target on ConocoPhillips from $130.00 to $136.00 and gave the stock a “hold” rating in a research note on Wednesday, October 7th. Argus increased their price objective on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. UBS Group increased their price objective on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a research report on Monday, September 14th. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Finally, Raymond James Financial reissued an “underperform” rating and issued a $168.00 target price on shares of ConocoPhillips in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.29.

ConocoPhillips Trading Up 2.5%

NYSE:COP opened at $141.02 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $141.62. The company has a market cap of $169.42 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.24. The company has a 50 day simple moving average of $130.48 and a two-hundred day simple moving average of $122.15.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Research analysts forecast that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.4%. ConocoPhillips’s payout ratio is presently 44.44%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

About ConocoPhillips

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.