Northwestern Mutual Wealth Management Co. Acquires 10,824 Shares of ConocoPhillips $COP

Northwestern Mutual Wealth Management Co. raised its holdings in shares of ConocoPhillips (NYSE:COP) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 549,141 shares of the energy producer’s stock after purchasing an additional 10,824 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ConocoPhillips were worth $57,089,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in COP. AXA S.A. boosted its holdings in shares of ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares during the period. Sei Investments Co. increased its holdings in ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock worth $70,397,000 after purchasing an additional 44,852 shares during the period. BNP Paribas purchased a new position in ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. bought a new stake in ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC raised its position in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Zacks Research downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Truist Financial upped their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a research note on Monday, August 10th. Barclays cut their target price on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Freedom Capital raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group dropped their price objective on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.29.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Momentum and analyst confidence remain strong. ConocoPhillips reached a new 52-week high, and Wall Street analysts continue to maintain a bullish outlook after the stock outperformed the Dow over the past year. ConocoPhillips stock hits 52-week high Is ConocoPhillips Stock Outperforming the Dow?
• Positive Sentiment: Recent operating performance provides support. ConocoPhillips recently reported quarterly EPS of $3.24, above the $2.90 consensus estimate, while revenue rose 32.4% year over year. Analysts cited COP as one of the better-positioned companies in a challenging energy industry. The Zacks Analyst Blog Highlights ConocoPhillips Can These 3 U.S. Integrated Energy Stocks Overcome Industry Headwinds?
• Positive Sentiment: Long-term resource and international growth opportunities remain in focus. CEO Ryan Lance is leading a National Petroleum Council effort to improve assessment and development of U.S. subsurface energy and storage resources. Separately, Iraq is discussing oil and gas development with ConocoPhillips and BP. ConocoPhillips backs national push to secure subsurface resources Iraq discusses oil and gas development with BP and ConocoPhillips
• Neutral Sentiment: Venezuela could create a future investment avenue, but timing and execution are uncertain. The U.S. deal seeks to attract investment in Venezuela’s substantial oil reserves, potentially benefiting major producers over the long term. However, infrastructure constraints mean additional supply may not reach markets soon, and ConocoPhillips has not committed to accelerated investment.
• Negative Sentiment: Political pressure and potential supply growth could weigh on industry economics. President Trump is pressuring refiners and distributors to lower gasoline prices, which could constrain energy-sector margins. Reports also cite red flags surrounding the Venezuela arrangement, including government involvement and uncertainty over the proposed venture. If Venezuela production eventually rises materially, increased global supply could pressure crude prices and COP’s upstream earnings. Trump’s oil deal with Venezuela raises red flags

Insider Activity at ConocoPhillips

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

ConocoPhillips Stock Up 2.6%

Shares of COP stock opened at $135.94 on Wednesday. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $136.30. The stock’s fifty day moving average price is $118.39 and its 200 day moving average price is $118.98. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a market cap of $163.31 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.13.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s revenue was up 32.4% compared to the same quarter last year. During the same period last year, the business posted $1.42 earnings per share. On average, research analysts expect that ConocoPhillips will post 10.55 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

About ConocoPhillips

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.