ConocoPhillips $COP Stock Position Decreased by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 23.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,723 shares of the energy producer’s stock after selling 7,205 shares during the period. Red Cedar Investment Management LLC’s holdings in ConocoPhillips were worth $2,969,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in COP. Venture Visionary Partners LLC increased its position in shares of ConocoPhillips by 263.6% in the 3rd quarter. Venture Visionary Partners LLC now owns 118,655 shares of the energy producer’s stock valued at $14,850,000 after purchasing an additional 86,019 shares during the last quarter. Cooper Financial Group lifted its position in shares of ConocoPhillips by 55.9% during the 3rd quarter. Cooper Financial Group now owns 11,635 shares of the energy producer’s stock worth $1,456,000 after purchasing an additional 4,172 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of ConocoPhillips during the 2nd quarter worth $6,896,000. NewEdge Advisors LLC grew its stake in shares of ConocoPhillips by 22.7% during the second quarter. NewEdge Advisors LLC now owns 243,708 shares of the energy producer’s stock worth $25,336,000 after purchasing an additional 45,088 shares in the last quarter. Finally, Cetera Trust Company N.A acquired a new position in shares of ConocoPhillips during the second quarter worth $870,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COP. The Goldman Sachs Group restated a “buy” rating and issued a $157.00 price target on shares of ConocoPhillips in a research note on Tuesday, October 20th. UBS Group reaffirmed an “outperform” rating on shares of ConocoPhillips in a report on Monday, November 2nd. Susquehanna upped their price objective on ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research report on Tuesday, October 20th. Truist Financial increased their price objective on ConocoPhillips from $136.00 to $142.00 and gave the company a “hold” rating in a report on Monday. Finally, Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $145.29.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ low-cost assets, LNG expansion and Willow project support its growth outlook. One analysis also noted the stock had rallied 54.4% this year, though it cautioned that this strength has left COP trading at a premium. ConocoPhillips Trades at a Premium: Is It the Right Time to Buy?
• Neutral Sentiment: Truist raised its price target from $136 to $142 but maintained a Hold rating, indicating measured rather than strong optimism. Truist Financial price target update
• Negative Sentiment: Valuation is a concern after COP’s substantial rally, which could limit near-term upside if investors view the shares as expensive. Zacks valuation analysis
• Negative Sentiment: Wells Fargo cut its price target, while a separate Seeking Alpha article flagged a rating downgrade, adding to the cautious analyst outlook. The provided reports did not specify the revised Wells Fargo target. Wells Fargo price target cut Seeking Alpha rating downgrade

ConocoPhillips Stock Performance

NYSE COP opened at $134.60 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. ConocoPhillips has a 1 year low of $85.70 and a 1 year high of $154.28. The company has a market capitalization of $161.70 billion, a PE ratio of 14.14, a P/E/G ratio of 1.29 and a beta of 0.16. The company has a fifty day moving average of $137.00 and a two-hundred day moving average of $122.29.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.22. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.43 billion for the quarter, compared to analyst estimates of $18.59 billion. During the same quarter last year, the company posted $1.61 earnings per share. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, analysts expect that ConocoPhillips will post 11.84 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a $0.93 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Monday, November 16th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.8%. ConocoPhillips’s payout ratio is currently 35.29%.

ConocoPhillips Company Profile

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.