ConocoPhillips $COP Shares Newly Acquired by JM2 Capital Inc.

JM2 Capital Inc. acquired a new stake in ConocoPhillips (NYSE:COP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 6,170 shares of the energy producer’s stock, valued at approximately $772,000.

Several other hedge funds also recently modified their holdings of COP. State Street Corp boosted its position in ConocoPhillips by 73.2% during the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after purchasing an additional 50,116,727 shares during the last quarter. Bank of America Corp DE bought a new position in ConocoPhillips in the second quarter valued at approximately $1,260,482,000. Primecap Management Co. CA acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $1,204,726,000. Legal & General Group Plc acquired a new position in shares of ConocoPhillips during the 2nd quarter worth approximately $716,151,000. Finally, Jupiter Topco LLC bought a new stake in shares of ConocoPhillips during the 2nd quarter worth approximately $427,954,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $141.02 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $169.42 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $141.62. The stock has a 50 day moving average of $130.48 and a 200-day moving average of $122.15.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s revenue was up 32.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 10.84 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. ConocoPhillips’s dividend payout ratio is 44.44%.

Analyst Ratings Changes

COP has been the topic of several analyst reports. Susquehanna upped their price target on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Seaport Research Partners started coverage on shares of ConocoPhillips in a research report on Thursday, September 3rd. They issued a “neutral” rating for the company. Zacks Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, October 6th. Finally, The Goldman Sachs Group dropped their target price on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.29.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.