ConocoPhillips $COP Holdings Reduced by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in ConocoPhillips (NYSE:COP) by 0.6% in the third quarter, Holdings Channel.com reports. The firm owned 722,404 shares of the energy producer’s stock after selling 4,008 shares during the period. Retirement Systems of Alabama’s holdings in ConocoPhillips were worth $90,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bfsg LLC increased its holdings in shares of ConocoPhillips by 34.8% during the 3rd quarter. Bfsg LLC now owns 302 shares of the energy producer’s stock worth $38,000 after purchasing an additional 78 shares during the period. Warwick Investment Management Inc. raised its position in shares of ConocoPhillips by 2.1% during the third quarter. Warwick Investment Management Inc. now owns 4,066 shares of the energy producer’s stock valued at $509,000 after buying an additional 82 shares during the last quarter. IFC Advisors LLC lifted its stake in shares of ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after buying an additional 84 shares during the period. Kennebec Savings Bank lifted its stake in shares of ConocoPhillips by 1.3% in the third quarter. Kennebec Savings Bank now owns 6,828 shares of the energy producer’s stock valued at $855,000 after buying an additional 85 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after buying an additional 88 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

NYSE:COP opened at $134.60 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The company has a 50-day moving average of $137.00 and a 200-day moving average of $122.29. ConocoPhillips has a 52 week low of $85.70 and a 52 week high of $154.28. The company has a market capitalization of $161.70 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 1.29 and a beta of 0.16.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.05 by $0.22. The business had revenue of $19.43 billion for the quarter, compared to analysts’ expectations of $18.59 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 earnings per share. As a group, equities research analysts anticipate that ConocoPhillips will post 11.84 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.93 dividend. The ex-dividend date is Monday, November 16th. This represents a $3.72 annualized dividend and a dividend yield of 2.8%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.84. ConocoPhillips’s dividend payout ratio is presently 35.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on ConocoPhillips from $189.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group raised their price objective on ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Piper Sandler assumed coverage on ConocoPhillips in a report on Tuesday, October 27th. They set a “neutral” rating and a $157.00 price objective on the stock. Barclays lowered their price objective on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Finally, Mizuho set a $149.00 target price on ConocoPhillips in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $145.29.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.09% of the company’s stock.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ low-cost assets, LNG expansion and Willow project support its growth outlook. One analysis also noted the stock had rallied 54.4% this year, though it cautioned that this strength has left COP trading at a premium. ConocoPhillips Trades at a Premium: Is It the Right Time to Buy?
• Neutral Sentiment: Truist raised its price target from $136 to $142 but maintained a Hold rating, indicating measured rather than strong optimism. Truist Financial price target update
• Negative Sentiment: Valuation is a concern after COP’s substantial rally, which could limit near-term upside if investors view the shares as expensive. Zacks valuation analysis
• Negative Sentiment: Wells Fargo cut its price target, while a separate Seeking Alpha article flagged a rating downgrade, adding to the cautious analyst outlook. The provided reports did not specify the revised Wells Fargo target. Wells Fargo price target cut Seeking Alpha rating downgrade

ConocoPhillips Company Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.