VIRGINIA RETIREMENT SYSTEMS ET Al Sells 5,300 Shares of ConocoPhillips $COP

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of ConocoPhillips (NYSE:COP) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,700 shares of the energy producer’s stock after selling 5,300 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in ConocoPhillips were worth $16,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC raised its stake in shares of ConocoPhillips by 56.4% in the 3rd quarter. Soltis Investment Advisors LLC now owns 29,885 shares of the energy producer’s stock valued at $3,740,000 after purchasing an additional 10,779 shares in the last quarter. Founders Financial Securities LLC grew its stake in ConocoPhillips by 1.4% in the third quarter. Founders Financial Securities LLC now owns 16,030 shares of the energy producer’s stock worth $2,006,000 after purchasing an additional 218 shares in the last quarter. Harbour Trust & Investment Management Co acquired a new position in ConocoPhillips in the third quarter worth about $217,000. Interchange Capital Partners LLC acquired a new position in ConocoPhillips in the third quarter worth about $245,000. Finally, Livelsberger Financial Advisory bought a new stake in ConocoPhillips in the third quarter valued at about $173,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COP. Wells Fargo & Company lifted their target price on ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Stifel Nicolaus initiated coverage on ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating and set a $157.00 price objective on shares of ConocoPhillips in a research note on Tuesday, October 20th. Raymond James Financial reissued an “underperform” rating and set a $168.00 target price on shares of ConocoPhillips in a report on Monday, August 24th. Finally, Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

ConocoPhillips Trading Up 2.7%

ConocoPhillips stock opened at $154.10 on Friday. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $154.28. 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 stock has a market capitalization of $185.13 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.24. The firm has a 50 day simple moving average of $136.14 and a 200-day simple moving average of $121.05.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion for 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 for the quarter was up 32.4% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. As a group, equities research analysts expect that ConocoPhillips will post 11.41 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

Insiders Place Their Bets

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was 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 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.