ConocoPhillips $COP Stock Holdings Boosted by National Pension Service

National Pension Service increased its position in ConocoPhillips (NYSE:COP) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,237,086 shares of the energy producer’s stock after acquiring an additional 68,227 shares during the period. National Pension Service owned approximately 0.26% of ConocoPhillips worth $306,196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Charles Schwab Investment Management Inc. grew its holdings in ConocoPhillips by 0.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock worth $3,623,946,000 after buying an additional 287,970 shares in the last quarter. Fisher Asset Management LLC raised its stake in ConocoPhillips by 1.6% during the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares in the last quarter. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 31.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares during the period. Primecap Management Co. CA grew its stake in shares of ConocoPhillips by 66.0% in the second quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after purchasing an additional 3,135,315 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of ConocoPhillips by 4.0% during the second quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock valued at $577,471,000 after purchasing an additional 244,810 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.4%

NYSE:COP opened at $104.25 on Friday. The stock has a fifty day simple moving average of $94.70 and a 200 day simple moving average of $93.25. The firm has a market capitalization of $128.82 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 3.26 and a beta of 0.32. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $106.20. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.78 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. Mizuho upped their target price on ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Wolfe Research lifted their price target on ConocoPhillips from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. The Goldman Sachs Group upped their price objective on ConocoPhillips from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Bank of America reaffirmed an “underperform” rating and set a $102.00 target price on shares of ConocoPhillips in a report on Friday, January 16th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $110.96.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Federal judge cleared ConocoPhillips to proceed with its winter drilling program in Alaska, reducing near-term legal uncertainty that could have delayed production and spending. Federal judge rules that ConocoPhillips can proceed with winter drilling program
• Positive Sentiment: Regulatory clearance was echoed in coverage that a judge “green-lit” COP’s Alaska drilling program, further lowering execution risk for Arctic activity. Judge green-lights ConocoPhillips Alaska oil drilling program
• Positive Sentiment: Geopolitical risk has pushed oil prices higher (Iran/strait-of-Hormuz concerns), which benefits integrated E&P names like ConocoPhillips through stronger commodity realizations and cash flow. Oil Rallies On Iran War Fears – 5 Integrated Energy Giants With Big Dividends
• Neutral Sentiment: ConocoPhillips says its plans for four new Arctic wells are unaffected by the toppled rig, which suggests management expects limited near-term disruption to the development schedule. ConocoPhillips’ plans for 4 new Arctic wells unaffected by toppled rig, company says
• Neutral Sentiment: Coverage notes the company called the Doyon rig destruction “a sad day” but downplayed major impacts; investors should watch for official damage/insurance updates. ConocoPhillips execs call Doyon oil rig destruction a ‘sad day,’ but no major impacts expected
• Negative Sentiment: An Arctic rig toppled and ignited a fire — an operational and reputational risk that could lead to added costs, regulatory scrutiny or delays if follow-up inspections or litigation arise. Monitor incident reports and any updates from regulators. As an Oil Rig Topples in the Alaskan Arctic and Ignites a Fire, Exploration There Continues
• Negative Sentiment: Analysts expect a year-over-year earnings decline for the upcoming quarter, which could cap near-term upside if results miss expectations or guidance is cautious. Analysts Estimate ConocoPhillips (COP) to Report a Decline in Earnings: What to Look Out for

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their position. The SEC filing for this sale provides additional information. 0.24% of the stock is owned by insiders.

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.