King Luther Capital Management Corp Sells 52,033 Shares of ConocoPhillips $COP

King Luther Capital Management Corp decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,016,159 shares of the energy producer’s stock after selling 52,033 shares during the period. ConocoPhillips makes up approximately 1.0% of King Luther Capital Management Corp’s investment portfolio, making the stock its 20th largest holding. King Luther Capital Management Corp’s holdings in ConocoPhillips were worth $252,322,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bingham Private Wealth LLC lifted its stake in shares of ConocoPhillips by 10.6% during the third quarter. Bingham Private Wealth LLC now owns 6,293 shares of the energy producer’s stock worth $788,000 after buying an additional 601 shares during the period. Maryland State Retirement & Pension System grew its holdings in shares of ConocoPhillips by 14.2% during the third quarter. Maryland State Retirement & Pension System now owns 74,668 shares of the energy producer’s stock valued at $9,345,000 after buying an additional 9,271 shares during the last quarter. Ritholtz Wealth Management increased its position in shares of ConocoPhillips by 4.5% in the 3rd quarter. Ritholtz Wealth Management now owns 36,796 shares of the energy producer’s stock valued at $4,605,000 after acquiring an additional 1,586 shares during the period. UNIVEST FINANCIAL Corp increased its position in shares of ConocoPhillips by 19.0% in the 3rd quarter. UNIVEST FINANCIAL Corp now owns 15,426 shares of the energy producer’s stock valued at $1,931,000 after acquiring an additional 2,462 shares during the period. Finally, NBH Bank increased its position in shares of ConocoPhillips by 5.3% in the 3rd quarter. NBH Bank now owns 2,946 shares of the energy producer’s stock valued at $369,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 1.6%

ConocoPhillips stock opened at $137.75 on Thursday. The firm has a market cap of $162.87 billion, a PE ratio of 14.47, a P/E/G ratio of 1.25 and a beta of 0.16. ConocoPhillips has a 12 month low of $85.70 and a 12 month high of $154.28. The stock’s 50 day simple moving average is $137.10 and its two-hundred day simple moving average is $122.68. The company has a current ratio of 1.52, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, November 5th. The energy producer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.05 by $0.22. ConocoPhillips had a net margin of 16.55% and a return on equity of 17.60%. The firm had revenue of $19.43 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’s quarterly revenue was up 29.2% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 12.09 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be issued a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.84. ConocoPhillips’s payout ratio is currently 39.08%.

Top ConocoPhillips Stories

Here are a few of the latest stories about COP:

• Positive Sentiment: ConocoPhillips raised its quarterly dividend by 10.7%, adding to shareholder returns. The increase is encouraging, though investors will weigh whether free cash flow can sustain the payout. Article: ConocoPhillips Just Raised Its Dividend 10.7%. Does Its Free Cash Flow Cover the 2.5% Yield?
• Neutral Sentiment: The company expects to spend modestly less on capital projects in 2027 while pursuing production growth through low-cost assets and efficiency gains. This could support cash flow, but investors will look for evidence that the plan can deliver growth despite lower spending. Article: Can ConocoPhillips Sustain Future Production Growth With Lower CapEx?
• Negative Sentiment: Freedom Broker lowered its rating from “buy” to “hold.” Although it raised its price target to $138 from $122, that target implies little upside from the cited $137.75 share price, signaling limited near-term valuation potential. Article: Freedom Broker rating information

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COP shares. Raymond James Financial restated an “outperform” rating and issued a $170.00 target price on shares of ConocoPhillips in a research note on Monday, November 2nd. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised ConocoPhillips from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Stifel Nicolaus began coverage on ConocoPhillips in a report on Thursday, September 10th. They issued a “hold” rating and a $148.00 price objective on the stock. Finally, Susquehanna raised their price objective on ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $144.69.

Insider Activity

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

About ConocoPhillips

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids. The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources. ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.