ConocoPhillips $COP Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its position in shares of ConocoPhillips (NYSE:COP) by 1.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,079,989 shares of the energy producer’s stock after selling 40,363 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of ConocoPhillips worth $196,746,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in COP. Navalign LLC increased its holdings in shares of ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after acquiring an additional 108 shares during the period. Greenfield Savings Bank grew its position in ConocoPhillips by 1.2% during the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after purchasing an additional 108 shares during the last quarter. Iowa State Bank increased its stake in ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after purchasing an additional 110 shares during the period. Perennial Investment Advisors LLC raised its holdings in shares of ConocoPhillips by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after buying an additional 112 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in shares of ConocoPhillips by 0.9% during the second quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock worth $1,091,000 after buying an additional 112 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares in the company, valued at approximately $30,152,410. This trade 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 purchased 5,768 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following 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. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Susquehanna raised their price target on ConocoPhillips from $110.00 to $115.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. UBS Group boosted their target price on ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a report on Friday, December 12th. Capital One Financial increased their price target on ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets lowered their price objective on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.96.

Key Headlines Impacting ConocoPhillips

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 Trading Up 1.4%

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

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The company had revenue of $15.03 billion for 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 revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.2%. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

About ConocoPhillips

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.