PKO BP BANKOWY Universal Pension Society JSC Takes $2.90 Million Position in ConocoPhillips $COP

PKO BP BANKOWY Universal Pension Society JSC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,000 shares of the energy producer’s stock, valued at approximately $2,902,000. ConocoPhillips comprises approximately 1.5% of PKO BP BANKOWY Universal Pension Society JSC’s portfolio, making the stock its 11th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Capital International Investors boosted its position in shares of ConocoPhillips by 18.2% during the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after acquiring an additional 7,037,873 shares during the last quarter. Primecap Management Co. CA lifted its position in ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock valued at $979,102,000 after buying an additional 2,467,555 shares during the last quarter. Ameriprise Financial Inc. lifted its position in ConocoPhillips by 20.6% in the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after buying an additional 2,216,010 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in ConocoPhillips in the third quarter valued at about $135,265,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in ConocoPhillips by 255.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,857,206 shares of the energy producer’s stock valued at $173,853,000 after buying an additional 1,334,687 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on COP. Barclays upped their target price on shares of ConocoPhillips from $128.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley upped their target price on shares of ConocoPhillips from $108.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Truist Financial set a $128.00 target price on shares of ConocoPhillips in a research report on Friday, May 1st. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Sanford C. Bernstein upped their target price on shares of ConocoPhillips from $98.00 to $121.00 and gave the company an “outperform” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.12.

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Lundquist sold 34,500 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the sale, the senior vice president directly owned 17,469 shares in the company, valued at $2,090,689.92. This represents a 66.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 734,891 shares of company stock valued at $93,345,692. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Up 1.6%

Shares of COP opened at $124.39 on Tuesday. The stock has a market capitalization of $151.54 billion, a PE ratio of 21.12, a P/E/G ratio of 1.41 and a beta of 0.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company’s 50-day simple moving average is $123.21 and its 200-day simple moving average is $106.64.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.17. The business had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 earnings per share. Analysts forecast that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s dividend payout ratio is currently 57.05%.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG to supply North Slope natural gas for Phase One of the Alaska LNG project, strengthening the company’s long-term volume outlook and signaling progress toward a final investment decision. Reuters: Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: The Alaska LNG announcement was echoed by multiple reports, reinforcing investor optimism that ConocoPhillips is helping advance a major infrastructure project that could support future gas monetization and regional energy demand. Yahoo Finance: Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 from $160 and kept a Buy rating, suggesting continued upside expectations from current levels. MarketScreener: Jefferies adjusts price target on ConocoPhillips
• Neutral Sentiment: Capital One Financial trimmed its price target slightly to $154 from $156 while maintaining an Equal Weight rating, a modestly less bullish read but not a major negative for the stock. MarketScreener: Capital One adjusts price target on ConocoPhillips
• Neutral Sentiment: Broader commentary on oil prices and options trading pointed to a supportive crude backdrop for COP, but this was more of a market/strategy note than a company-specific fundamental update. Barchart: ConocoPhillips Put Options Look Attractive to Short Sellers as Oil Rises

ConocoPhillips Company 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.