Balefire LLC Decreases Stock Holdings in ConocoPhillips $COP

Balefire LLC lowered its stake in shares of ConocoPhillips (NYSE:COP) by 36.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,643 shares of the energy producer’s stock after selling 10,077 shares during the period. Balefire LLC’s holdings in ConocoPhillips were worth $2,329,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC increased its stake in ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after acquiring an additional 20,501 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of ConocoPhillips by 10.5% in the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after purchasing an additional 14,833 shares during the last quarter. Czech National Bank lifted its stake in shares of ConocoPhillips by 2.7% in the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock valued at $30,502,000 after purchasing an additional 8,635 shares during the last quarter. BXM Wealth LLC boosted its holdings in shares of ConocoPhillips by 691.6% in the 4th quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after purchasing an additional 34,961 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of ConocoPhillips by 17.6% in the 4th quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock worth $38,402,000 after purchasing an additional 61,361 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COP. Truist Financial decreased their price target on ConocoPhillips from $128.00 to $115.00 and set a “hold” rating on the stock in a report on Wednesday, July 8th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Raymond James Financial cut their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating on the stock in a research report on Monday, June 1st. Freedom Capital downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Scotiabank raised their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

ConocoPhillips Trading Down 0.0%

Shares of COP opened at $114.70 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $139.74 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.39 and a beta of 0.12. The company has a 50-day moving average of $113.48 and a 200 day moving average of $113.52. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the company posted $2.09 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, research analysts expect that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed 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 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

ConocoPhillips 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.