ConocoPhillips $COP Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of ConocoPhillips (NYSE:COP) by 1.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 23,224,586 shares of the energy producer’s stock after selling 250,115 shares during the period. ConocoPhillips makes up approximately 0.7% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 28th largest holding. Massachusetts Financial Services Co. MA owned about 1.86% of ConocoPhillips worth $2,196,814,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Howard Hughes Medical Institute purchased a new position in shares of ConocoPhillips in the second quarter valued at $25,000. Bogart Wealth LLC lifted its holdings in ConocoPhillips by 136.8% in the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management boosted its position in ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares during the last quarter. Cedar Mountain Advisors LLC grew its stake in shares of ConocoPhillips by 58.0% during the third quarter. Cedar Mountain Advisors LLC now owns 316 shares of the energy producer’s stock valued at $30,000 after acquiring an additional 116 shares in the last quarter. Finally, BNP Paribas purchased a new stake in shares of ConocoPhillips during the second quarter worth about $33,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.8%

ConocoPhillips stock opened at $98.18 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $121.32 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.69 and a beta of 0.32. The firm has a 50-day moving average price of $92.65 and a two-hundred day moving average price of $92.91.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, November 17th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.4%. ConocoPhillips’s dividend payout ratio (DPR) is currently 47.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler cut their price target on shares of ConocoPhillips from $115.00 to $109.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Sanford C. Bernstein decreased their price objective on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Mizuho upped their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday, December 29th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.83.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Confirmed gas discovery in Australia’s Otway Basin adds to reserves and strengthens ConocoPhillips’ natural?gas growth optionality — supports longer?term production and value of downstream/ LNG optionality. ConocoPhillips Confirms Second Gas Discovery in Australia’s Otway Basin ConocoPhillips Australia discovers additional gas in Otway basin Charlemont Trend
• Neutral Sentiment: International oil companies are lobbying for Venezuelan law changes to allow freer exports of oil they produce — could expand export volumes for majors if enacted, but outcomes and timing remain uncertain for ConocoPhillips. International oil companies push for quick reforms in Venezuela to give them control over oil exports
• Neutral Sentiment: Wolfe Research trimmed its price target (126?122) but kept an outperform rating — a modest sign of caution but still indicates upside versus the current price. Wolfe adjusts price target on ConocoPhillips to $122 from $126, maintains outperform rating
• Negative Sentiment: Bank of America reiterated an underperform stance (framed as a “sell equivalent”), citing relatively high oil breakevens for ConocoPhillips and preferring other names — this analyst view is pressuring sentiment. ConocoPhillips cut to sell equivalent at BofA on high oil breakeven; Ovintiv top oil pick
• Negative Sentiment: JPMorgan and other outlets published lower price targets (JPMorgan to $98; reports of a $6 reduction elsewhere), and MarketWatch highlighted COP’s recent underperformance vs. peers — multiple PT cuts and comparative underperformance are amplifying downside pressure. JPMorgan Chase & Co. Lowers ConocoPhillips (NYSE:COP) Price Target to $98.00 ConocoPhillips (COP) Price Target Lowered by $6 ConocoPhillips stock underperforms Thursday when compared to competitors
• Neutral Sentiment: Industry commentators continue to favor select midstream/refining/shipping names over majors in the near term, signaling rotation risk for large oil producers like COP even if fundamentals remain intact. Don’t Trade the Venezuela Headlines. Why We’re Skipping Oil Majors to Zero In on These Energy Stocks Instead.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. This represents a 60.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William H. Mcraven acquired 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.24% of the stock is currently owned by company insiders.

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.