ConocoPhillips $COP Position Lifted by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 25.2% in the third quarter, HoldingsChannel reports. The fund owned 160,324 shares of the energy producer’s stock after purchasing an additional 32,302 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in ConocoPhillips were worth $22,143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Focus Financial Network Inc. raised its holdings in ConocoPhillips by 135.4% in the 3rd quarter. Focus Financial Network Inc. now owns 9,938 shares of the energy producer’s stock worth $1,244,000 after purchasing an additional 5,717 shares during the period. JM2 Capital Inc. purchased a new position in ConocoPhillips during the third quarter valued at $772,000. Wetzel Investment Advisors Inc. lifted its position in ConocoPhillips by 27.4% during the third quarter. Wetzel Investment Advisors Inc. now owns 9,299 shares of the energy producer’s stock valued at $1,282,000 after purchasing an additional 2,002 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in ConocoPhillips by 1,909.8% during the third quarter. Salem Investment Counselors Inc. now owns 121,894 shares of the energy producer’s stock valued at $15,255,000 after purchasing an additional 115,829 shares during the period. Finally, Signal Advisors Wealth LLC grew its holdings in ConocoPhillips by 946.9% during the third quarter. Signal Advisors Wealth LLC now owns 45,288 shares of the energy producer’s stock valued at $5,668,000 after purchasing an additional 40,962 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. Morgan Stanley upped their price target on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Zacks Research upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a report on Monday, June 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $143.29.

ConocoPhillips Price Performance

NYSE:COP opened at $141.02 on Wednesday. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $130.48 and its two-hundred day simple moving average is $122.15. The stock has a market cap of $169.42 billion, a PE ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 0.24. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $141.62.

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

ConocoPhillips Announces Dividend

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

Insider Transactions at ConocoPhillips

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

Key Stories 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

ConocoPhillips Company Profile

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.