ConocoPhillips $COP Stock Purchased by North Dakota State Investment Board

North Dakota State Investment Board grew its position in ConocoPhillips (NYSE:COP) by 12.7% in the third quarter, Holdings Channel.com reports. The fund owned 41,462 shares of the energy producer’s stock after buying an additional 4,668 shares during the period. North Dakota State Investment Board’s holdings in ConocoPhillips were worth $5,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of COP. State Street Corp increased its position in shares of ConocoPhillips by 73.2% during 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 during the period. BlackRock Inc. raised its stake in shares of ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of ConocoPhillips by 12.0% in the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after purchasing an additional 1,609,759 shares in the last quarter. Bank of America Corp DE bought a new position in ConocoPhillips in the second quarter worth $1,260,482,000. Finally, Primecap Management Co. CA bought a new position in ConocoPhillips in the second quarter worth $1,204,726,000. Institutional investors own 82.36% of the company’s stock.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Technical momentum improved: COP reclaimed its 50-day moving average, a signal that technical analysts view as supportive of a short-term bullish trend. ConocoPhillips Just Reclaimed the 50-Day Moving Average
• Positive Sentiment: Oil-sector tailwinds remain favorable: ConocoPhillips and other major producers have benefited from elevated crude prices, partly linked to geopolitical tensions. The company recently reached a fresh 52-week high, reinforcing the stock’s momentum. ConocoPhillips Reaches a Fresh 52-Week High
• Neutral Sentiment: Analyst view is cautious but not bearish: Piper Sandler initiated coverage with a “neutral” rating and a $157 price target, implying modest additional upside. The average target cited elsewhere is $145, below recent trading levels, suggesting valuation may already reflect much of the favorable outlook. Piper Sandler ConocoPhillips Rating
• Neutral Sentiment: Momentum has been strong but volatile: COP gained 2.93% over the prior week before declining during the latest completed session, indicating continued sensitivity to broader market and energy-price movements. ConocoPhillips Weekly Momentum
• Negative Sentiment: Canadian workforce reductions add execution and sentiment risk: ConocoPhillips plans another round of Canadian job cuts as it restructures regional operations and aligns staffing with project priorities. The move may reduce costs, but it also highlights portfolio pressures and potential employee-relations risks. ConocoPhillips Plans Job Cuts in Canada

ConocoPhillips Trading Up 0.7%

Shares of COP opened at $148.95 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market cap of $178.94 billion, a PE ratio of 19.70, a PEG ratio of 1.47 and a beta of 0.24. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $152.77. The stock has a 50 day simple moving average of $135.37 and a 200-day simple moving average of $120.50.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. ConocoPhillips’s quarterly revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, sell-side analysts predict that ConocoPhillips will post 11.42 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed 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. This represents a $3.36 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips 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 transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, 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 this link. 0.09% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of ConocoPhillips from $161.00 to $175.00 and gave the stock a “positive” rating in a research note on Tuesday, October 20th. The Goldman Sachs Group restated a “buy” rating and issued a $157.00 price objective on shares of ConocoPhillips in a research note on Tuesday, October 20th. William Blair started coverage on shares of ConocoPhillips in a report on Wednesday. They set a “market perform” rating for the company. Argus lifted their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Mizuho lowered their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.00.

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.