Swiss National Bank Trims Position in ConocoPhillips $COP

Swiss National Bank cut its holdings in shares of ConocoPhillips (NYSE:COP) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,422,470 shares of the energy producer’s stock after selling 216,600 shares during the period. Swiss National Bank’s holdings in ConocoPhillips were worth $320,377,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in shares of ConocoPhillips by 14.7% during 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 in the last quarter. Natixis Advisors LLC boosted its position in shares of ConocoPhillips by 8.7% during 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 in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of ConocoPhillips by 31.2% during 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 in the last quarter. SPX Gestao de Recursos Ltda bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $1,892,000. Finally, D.A. Davidson & CO. boosted its position in shares of ConocoPhillips by 10.5% during 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 in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COP. Truist Financial set a $128.00 price target on ConocoPhillips in a research report on Friday, May 1st. Citigroup lifted their price target on ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. BMO Capital Markets dropped their price target on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Morgan Stanley lifted their price target on ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Seventeen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $134.48.

ConocoPhillips Trading Down 3.8%

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

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts predict that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the sale, the senior vice president directly owned 25,284 shares in the company, valued at $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 634,715 shares of company stock valued at $81,410,816. 0.09% of the stock is currently owned by corporate insiders.

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 Company 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.