ConocoPhillips $COP Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its stake in shares of ConocoPhillips (NYSE:COP) by 10.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 296,013 shares of the energy producer’s stock after selling 36,207 shares during the quarter. Mediolanum International Funds Ltd’s holdings in ConocoPhillips were worth $28,373,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Souders Financial Advisors grew its holdings in shares of ConocoPhillips by 39.8% during the third quarter. Souders Financial Advisors now owns 5,126 shares of the energy producer’s stock valued at $485,000 after buying an additional 1,459 shares during the last quarter. Mutual Advisors LLC lifted its position in ConocoPhillips by 10.8% during the 3rd quarter. Mutual Advisors LLC now owns 18,930 shares of the energy producer’s stock worth $1,705,000 after acquiring an additional 1,840 shares during the period. Lee Financial Co purchased a new stake in ConocoPhillips during the 3rd quarter valued at about $311,000. Frank Rimerman Advisors LLC grew its stake in ConocoPhillips by 23.3% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 11,112 shares of the energy producer’s stock valued at $1,051,000 after purchasing an additional 2,103 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of ConocoPhillips by 2.3% during the third quarter. Everhart Financial Group Inc. now owns 8,186 shares of the energy producer’s stock worth $774,000 after purchasing an additional 182 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Key ConocoPhillips News

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

ConocoPhillips Stock Performance

NYSE COP opened at $104.25 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $94.70 and its 200-day simple moving average is $93.25. The company has a market cap of $128.82 billion, a PE 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.

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

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, November 17th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is presently 47.52%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Sanford C. Bernstein dropped their price objective on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Raymond James Financial upped their price target on shares of ConocoPhillips from $98.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Roth Mkm lifted their price objective on ConocoPhillips from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. UBS Group upped their target price on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, BMO Capital Markets decreased their price target on ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 15th. Sixteen 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.96.

Insider Activity

In other ConocoPhillips news, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Mcraven bought 5,768 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares in the company, valued at approximately $499,970.24. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.24% of the stock is currently owned by corporate 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.