ConocoPhillips $COP Stock Holdings Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its position in shares of ConocoPhillips (NYSE:COP) by 8.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 591,022 shares of the energy producer’s stock after buying an additional 46,091 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ConocoPhillips were worth $75,875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of COP. Independent Financial Group LLC bought a new position in ConocoPhillips in the 1st quarter worth $1,123,000. Prosperity Consulting Group LLC increased its stake in shares of ConocoPhillips by 5.0% in the first quarter. Prosperity Consulting Group LLC now owns 8,360 shares of the energy producer’s stock worth $1,104,000 after purchasing an additional 401 shares during the period. Smart Money Group LLC bought a new position in shares of ConocoPhillips in the first quarter worth about $210,000. Frazier Financial Advisors LLC boosted its stake in ConocoPhillips by 151.0% during the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 145 shares during the period. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in ConocoPhillips by 15.3% in the 1st quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 5,263 shares of the energy producer’s stock valued at $695,000 after buying an additional 697 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.6%

Shares of NYSE COP opened at $114.70 on Friday. The firm has a market capitalization of $139.74 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 1.36 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The firm’s 50-day moving average is $113.48 and its 200-day moving average is $113.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share 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 during the quarter, compared to the consensus estimate of $15.62 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts expect that ConocoPhillips will post 9.2 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. ConocoPhillips’s dividend payout ratio is 57.05%.

Analyst Ratings Changes

A number of brokerages have recently commented on COP. Morgan Stanley cut their price target on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Truist Financial cut their target price on shares of ConocoPhillips from $128.00 to $115.00 and set a “hold” rating for the company in a research note on Wednesday, July 8th. Capital One Financial reduced their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. BMO Capital Markets decreased their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Freedom Capital lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $134.04.

Key Headlines Impacting ConocoPhillips

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 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.