Covington Investment Advisors Inc. Purchases New Shares in ConocoPhillips $COP

Covington Investment Advisors Inc. acquired a new position in ConocoPhillips (NYSE:COP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 93,607 shares of the energy producer’s stock, valued at approximately $9,731,000. ConocoPhillips makes up approximately 1.3% of Covington Investment Advisors Inc.’s holdings, making the stock its 26th largest position.

Other large investors have also recently made changes to their positions in the company. Patten Group Inc. lifted its holdings in shares of ConocoPhillips by 1.5% in the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock valued at $719,000 after acquiring an additional 83 shares during the last quarter. IFC Advisors LLC increased its stake in ConocoPhillips by 0.4% during the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock worth $2,664,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Planning Group LLC raised its position in ConocoPhillips by 9.6% during the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock valued at $124,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. raised its position in ConocoPhillips by 0.4% during the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock valued at $2,791,000 after purchasing an additional 92 shares during the period. Finally, Sigma Planning Corp lifted its stake in shares of ConocoPhillips by 0.6% in the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock valued at $2,120,000 after purchasing an additional 94 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock opened at $135.45 on Monday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.88. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The firm has a market capitalization of $162.72 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.43 and a beta of 0.11. The stock has a 50 day moving average price of $115.30 and a 200 day moving average price of $117.77.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the company posted $1.42 EPS. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, sell-side analysts predict that ConocoPhillips will post 10.46 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on COP. Argus boosted their target price on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Raymond James Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Susquehanna increased their target price on shares of ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a research note on Tuesday, August 11th. Finally, Truist Financial raised their target price on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a “hold” rating in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $139.21.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips reported adjusted earnings of $3.24 per share, exceeding the $2.90 consensus estimate, while revenue reached $19.52 billion. The company also generated $7.2 billion in operating cash flow, doubled share repurchases and declared an $0.84 quarterly dividend, reinforcing confidence in cash generation and shareholder returns. ConocoPhillips Beats Earnings and Names New CEO
• Positive Sentiment: Higher crude prices have supported a broader energy-sector rally and improved the near-term earnings outlook for upstream producers such as COP. Analysts have also issued mostly favorable ratings, with a reported median price target of $146. ConocoPhillips Gains as Higher Oil Prices Add to Post-Earnings Momentum
• Positive Sentiment: Investors see additional upside if the company successfully executes its LNG strategy and Willow development. One analysis estimates COP could be approximately 6% below fair value under that growth scenario. ConocoPhillips Could Be 6% Below Fair Value If LNG and Willow Deliver
• Neutral Sentiment: Management is undergoing succession changes, including CEO Ryan Lance’s retirement and internal finance leadership appointments. The insider promotions provide continuity, but investors will monitor whether the new leadership maintains disciplined capital allocation. ConocoPhillips Gives Finance Chief Role to Insider
• Negative Sentiment: After its sharp advance, COP trades at a premium valuation, increasing sensitivity to oil prices and execution. Recent disclosures also show substantial insider selling, which could temper enthusiasm even though institutional and analyst activity remains broadly supportive. Is ConocoPhillips Stock a Buy as Growth Meets a Premium Valuation?

ConocoPhillips Profile

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.