SG Trading Solutions LLC Takes Position in ConocoPhillips $COP

SG Trading Solutions LLC acquired a new position in ConocoPhillips (NYSE:COP) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,572 shares of the energy producer’s stock, valued at approximately $1,270,000.

Several other hedge funds also recently added to or reduced their stakes in COP. AXA S.A. raised its position in 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. grew its holdings in shares of 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 acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth about $33,000. Osterweis Capital Management Inc. acquired a new stake in shares of ConocoPhillips during the 2nd quarter worth about $151,000. Finally, Main Street Financial Solutions LLC raised its holdings in ConocoPhillips by 53.5% in the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after buying an additional 1,675 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Kelly Brunetti Rose sold 7,700 shares of the business’s stock in a transaction on Tuesday, March 24th. The shares were sold at an average price of $130.03, for a total value of $1,001,231.00. Following the completion of the transaction, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total value of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. This represents a 24.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 127,915 shares of company stock worth $16,915,448 in the last ninety days. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on COP. Morgan Stanley upped their target price on shares of ConocoPhillips from $149.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. Capital One Financial dropped their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Scotiabank boosted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Piper Sandler upped their price objective on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, UBS Group increased their price objective on shares of ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Seventeen research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.48.

ConocoPhillips Stock Down 3.0%

Shares of NYSE:COP opened at $107.92 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $131.48 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 1.23 and a beta of 0.11. The firm’s 50-day moving average is $118.99 and its two-hundred day moving average is $111.27. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the company earned $2.09 earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts predict that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips is advancing new upstream opportunities, including a reported gas development agreement in Syria and participation in offshore Block 3 exploration with TotalEnergies, QatarEnergy, and the Syrian Petroleum Company, which could add longer-term growth potential. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: Analyst coverage remains constructive, with Morgan Stanley maintaining an Overweight rating and recent price targets generally above the current share price, suggesting Wall Street still sees upside. ConocoPhillips (COP) Stock Slides as Market Rises: Facts to Know Before You Trade
• Neutral Sentiment: Reports suggest ConocoPhillips remains focused on upstream production, reinforcing its core strategy, but this is not a near-term stock-moving catalyst by itself. ConocoPhillips Keeps Focus On Upstream Production
• Neutral Sentiment: Market commentary notes COP has been trading below some fair-value estimates after its recent decline, which may interest value investors but does not change the macro pressure on energy shares. A Look at ConocoPhillips (COP) After 3.1% Decline — GF Value $109.98 vs Price $107.74
• Negative Sentiment: Oil prices have fallen, and sector-wide weakness is dragging ConocoPhillips lower despite no major company-specific negative announcement, limiting near-term sentiment for the stock. ConocoPhillips Slides as Crude Prices Retreat and No New Company-Specific Catalyst Emerges

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.