Invesco Ltd. Acquires 290,888 Shares of ConocoPhillips $COP

Invesco Ltd. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 13,413,036 shares of the energy producer’s stock after purchasing an additional 290,888 shares during the period. Invesco Ltd. owned approximately 1.09% of ConocoPhillips worth $1,255,594,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in ConocoPhillips by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 120,251,183 shares of the energy producer’s stock valued at $11,256,713,000 after purchasing an additional 408,304 shares during the last quarter. Capital International Investors grew its position in ConocoPhillips by 5.9% in the 4th quarter. Capital International Investors now owns 48,360,060 shares of the energy producer’s stock worth $4,527,230,000 after purchasing an additional 2,714,663 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock worth $3,880,151,000 after purchasing an additional 2,350,645 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 4.5% during the 4th quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock worth $1,407,770,000 after purchasing an additional 648,432 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of ConocoPhillips by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,847,367 shares of the energy producer’s stock worth $1,389,862,000 after purchasing an additional 193,401 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Sanford C. Bernstein increased their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Truist Financial set a $128.00 price target on ConocoPhillips in a report on Friday, May 1st. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Argus lifted their price objective on ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.48.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total transaction of $1,001,231.00. Following the completion of the transaction, the senior vice president directly owned 25,284 shares of the company’s stock, valued at approximately $3,287,678.52. This trade represents a 23.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the sale, the executive vice president owned 5,395 shares in the company, valued at $685,488.70. This represents a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,915 shares of company stock valued at $16,915,448 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $107.92 on Friday. The firm has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.87. The firm has a 50-day moving average price of $118.99 and a 200 day moving average price of $111.27.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company 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 business earned $2.09 earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. Research analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s payout ratio is currently 57.05%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

About ConocoPhillips

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.