Truist Financial Corp Sells 23,431 Shares of ConocoPhillips $COP

Truist Financial Corp trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,898 shares of the energy producer’s stock after selling 23,431 shares during the quarter. Truist Financial Corp’s holdings in ConocoPhillips were worth $44,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wedge Capital Management L L P NC grew its position in ConocoPhillips by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock worth $241,000 after acquiring an additional 101 shares during the last quarter. Strategic Blueprint LLC grew its position in ConocoPhillips by 1.3% during the 4th quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after acquiring an additional 101 shares during the last quarter. Oregon Pacific Wealth Management LLC grew its position in ConocoPhillips by 4.5% during the 4th quarter. Oregon Pacific Wealth Management LLC now owns 2,414 shares of the energy producer’s stock worth $226,000 after acquiring an additional 104 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in ConocoPhillips by 5.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 2,231 shares of the energy producer’s stock worth $209,000 after acquiring an additional 109 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its holdings in ConocoPhillips by 1.1% in the 4th quarter. Wright Investors Service Inc. now owns 9,792 shares of the energy producer’s stock worth $917,000 after buying an additional 109 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Q1 earnings beat — ConocoPhillips reported adjusted Q1 profits above estimates, which underpins the company’s near?term cash flow strength and supports dividend/capital return expectations. ConocoPhillips Beats Profit Estimates for Q1
• Positive Sentiment: Sahtu fracking approval — Canadian regulators cleared an expansion of fracking activity in the Sahtu region, giving COP a permit to grow production optionality in a North American basin. This is a project?level positive for future volumes and reserve development. ConocoPhillips gets OK to expand Sahtu fracking
• Positive Sentiment: Analyst upgrades & technical setup — Several outlets note upward revisions to analysts’ earnings estimates and a bullish “hammer” technical pattern that investors cite as a buy?the?dip opportunity. That supports shorter?term demand for the shares. Here’s Why ConocoPhillips (COP) Is a Great ‘Buy the Bottom’ Stock Now
• Positive Sentiment: Sector momentum & coverage — Energy sector strength and coverage/mentions from commentators (including Cramer) have kept investor interest elevated, which can amplify moves in COP alongside peers. Sector Update: Energy Stocks Higher Monday Afternoon
• Neutral Sentiment: Dividend/diversified themes — Coverage highlighting energy dividend momentum references COP among large producers; helpful context but not a near?term catalyst by itself. ConocoPhillips, TC Energy results highlight energy dividend momentum
• Neutral Sentiment: Geopolitical/asset optionality — Broader industry interest in re?engaging with Venezuela is noted; this is a long?horizon factor that could offer optional upside but carries political and execution risk. Suddenly U.S. Oil Giants Are Taking Another Look at ‘Uninvestable’ Venezuela
• Negative Sentiment: Valuation/price?target caution — Some analysts and outlets argue COP is a “hold” after a large YTD run (and a ~46% rise in prior coverage), noting consensus price targets may lag the rally and limit near?term upside. That tempering view is likely pressuring the stock today. Despite Soaring 46%, ConocoPhillips Is a Hold as Price Target Trails

Analyst Ratings Changes

Several research firms have weighed in on COP. Sanford C. Bernstein increased their price objective on ConocoPhillips from $98.00 to $121.00 and gave the stock an “outperform” rating in a report on Monday, April 13th. UBS Group increased their price objective on ConocoPhillips from $130.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Mizuho increased their price objective on ConocoPhillips from $121.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Raymond James Financial increased their price objective on ConocoPhillips from $118.00 to $145.00 and gave the stock an “outperform” rating in a report on Monday, April 27th. Finally, The Goldman Sachs Group increased their price objective on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $133.04.

Insider Buying and Selling

In other news, SVP Kelly Brunetti Rose sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares in the company, valued at $3,893,431.36. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction on Friday, March 6th. The shares were sold at an average price of $118.79, for a total value of $4,751,600.00. Following the transaction, the director owned 411,211 shares of the company’s stock, valued at $48,847,754.69. The trade was a 8.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 over the last quarter. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Down 1.3%

COP opened at $123.32 on Wednesday. The stock has a market cap of $150.24 billion, a PE ratio of 20.94, a PEG ratio of 1.76 and a beta of 0.14. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $122.43 and a 200-day moving average of $104.69. ConocoPhillips has a 52 week low of $84.28 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. Equities research analysts predict that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is presently 57.05%.

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.