115,829 ConocoPhillips $COP Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. grew its position in shares of ConocoPhillips (NYSE:COP) by 1,909.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,894 shares of the energy producer’s stock after purchasing an additional 115,829 shares during the period. Salem Investment Counselors Inc.’s holdings in ConocoPhillips were worth $15,255,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in shares of ConocoPhillips by 73.2% in the second quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares in the last quarter. Bank of America Corp DE bought a new stake in ConocoPhillips during the second quarter valued at $1,260,482,000. Primecap Management Co. CA bought a new stake in ConocoPhillips during the second quarter valued at $1,204,726,000. Legal & General Group Plc bought a new stake in ConocoPhillips during the second quarter valued at $716,151,000. Finally, Jupiter Topco LLC purchased a new position in ConocoPhillips during the second quarter worth about $427,954,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

Analyst Ratings Changes

A number of equities analysts have weighed in on COP shares. Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. 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 for the company. Barclays dropped their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Susquehanna upped their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a “positive” rating in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated 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 directly owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

NYSE COP opened at $141.02 on Wednesday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $141.62. The company has a fifty day moving average of $130.48 and a 200-day moving average of $122.15. The company has a market capitalization of $169.42 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 0.24. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last released its 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. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue was up 32.4% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 10.84 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s payout ratio is 44.44%.

About ConocoPhillips

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

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.