ConocoPhillips $COP Stock Position Lowered by MRA Advisory Group

MRA Advisory Group trimmed its holdings in ConocoPhillips (NYSE:COP) by 63.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,877 shares of the energy producer’s stock after selling 6,795 shares during the period. MRA Advisory Group’s holdings in ConocoPhillips were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its holdings 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 valued at $12,328,767,000 after purchasing an additional 50,116,727 shares in the last quarter. BlackRock Inc. increased its stake in shares of ConocoPhillips by 3.0% during the 2nd quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after purchasing an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP raised its position in shares of ConocoPhillips by 12.0% during the 2nd quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after purchasing an additional 1,609,759 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of ConocoPhillips by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,044,489 shares of the energy producer’s stock worth $1,457,978,000 after purchasing an additional 74,261 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in ConocoPhillips by 10.8% in the 1st quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock valued at $1,344,017,000 after buying an additional 995,392 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on COP shares. Morgan Stanley raised their price target on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. The Goldman Sachs Group decreased their price objective on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Truist Financial boosted their target price on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday. Freedom Capital upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.29.

Insider Buying and Selling at ConocoPhillips

In related news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips 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 transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Trading Down 0.4%

COP stock traded down $0.47 on Wednesday, hitting $128.88. 1,904,240 shares of the company were exchanged, compared to its average volume of 8,130,194. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. 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 business’s fifty day moving average is $128.85 and its two-hundred day moving average is $121.88. The stock has a market capitalization of $154.83 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.35 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue was up 32.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is 44.44%.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 20-year agreement to purchase 1 million metric tons of LNG annually from Venture Global beginning in 2030. The deal expands COP’s long-term gas exposure and could support future cash flow, contributing to an estimate that the shares may be undervalued. ConocoPhillips Could Be 11% Undervalued Following New 20 Year LNG Deal
• Positive Sentiment: Management is reportedly reviewing the sale of its Norway business and UK Teesside assets, potentially valued at approximately $7 billion. A transaction could simplify the portfolio, increase capital flexibility and provide funds for shareholder returns or higher-return investments. ConocoPhillips Reviews Norway Business and UK Teesside Asset Divestment
• Positive Sentiment: Mizuho analyst Nitin Kumar reiterated a Buy rating and a $146 NAV-based price target, citing near-term earnings strength and longer-term LNG-driven cash-flow potential. Analyst Reiterates Buy on ConocoPhillips
• Neutral Sentiment: ConocoPhillips’ chairman said the long-term floor for oil prices could rise toward $70 per barrel. That would support producer cash flows, although the comment is an outlook rather than a new company-specific financial forecast. ConocoPhillips Chairman Sees Oil Price Floor Rising Toward $70
• Neutral Sentiment: Recent valuation articles compare COP with Cactus (WHD), while another compares COP’s performance with Calumet (CLMT) and the broader oil-and-energy group. These are relative-investment analyses and do not introduce a new operating catalyst. COP or WHD: Which Is the Better Value Stock Right Now?
• Negative Sentiment: The recent monthly share-price decline indicates near-term momentum has weakened after a strong year-to-date advance. In addition, potential asset sales remain under review, and management’s comments that Venezuela and Russia need greater stability and fair fiscal terms highlight geopolitical and investment uncertainties. ConocoPhillips Discusses Conditions for Investors to Return

ConocoPhillips Profile

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.