ConocoPhillips $COP Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 18.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,162 shares of the energy producer’s stock after selling 7,582 shares during the period. Park Avenue Securities LLC’s holdings in ConocoPhillips were worth $3,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of COP. Navalign LLC grew its position in ConocoPhillips by 1.1% in the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after buying an additional 108 shares in the last quarter. Greenfield Savings Bank lifted its stake in shares of ConocoPhillips by 1.2% in the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock worth $853,000 after acquiring an additional 108 shares during the period. Tritonpoint Wealth LLC lifted its stake in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after acquiring an additional 110 shares during the period. Iowa State Bank boosted its holdings in shares of ConocoPhillips by 0.5% in the second quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock valued at $1,992,000 after acquiring an additional 110 shares in the last quarter. Finally, Perennial Investment Advisors LLC increased its stake in shares of ConocoPhillips by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock valued at $368,000 after acquiring an additional 112 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ CEO Ryan Lance will attend the White House meeting on Venezuela, putting COP in direct discussions about potential access to Venezuelan oil assets and future investment opportunities. Reuters: ConocoPhillips says CEO will attend White House meeting
• Positive Sentiment: President Trump stated oil companies would spend roughly $100 billion to rebuild Venezuela’s energy sector and indicated the U.S. would decide which firms can operate there — a large potential investment pool for participating majors like COP. Trump: Oil companies will spend $100 billion in Venezuela
• Neutral Sentiment: U.S. energy officials say ConocoPhillips and peers are evaluating what role they could play in Venezuela; this is an exploratory phase with no guarantees of contracts or timing. Financial Post: ConocoPhillips and Exxon look at Venezuela role
• Neutral Sentiment: U.S. Treasury commentary suggests the largest oil companies will likely move more cautiously into Venezuela than independents, implying COP may be slower to deploy capital despite big potential opportunities. Reuters: Bessent says largest oil companies likely move slower
• Negative Sentiment: Analysts are trimming targets on COP: Bernstein cut its price target to $98 (from $116), signaling lowered near-term expectations despite keeping an Outperform rating. InsiderMonkey: Bernstein trims price target on ConocoPhillips
• Negative Sentiment: Wolfe Research also lowered its price target, reflecting analyst caution that may pressure the stock until clarity on cash flows or clear commitments emerge. AmericanBankingNews: Wolfe Research Cuts ConocoPhillips Price Target
• Negative Sentiment: Reports that U.S. oil companies want “serious guarantees” from Washington before making large Venezuelan investments highlight legal/regulatory risk that could delay or limit COP’s participation. Reuters: US oil companies say they need guarantees to invest in Venezuela

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group cut their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, October 17th. Sanford C. Bernstein dropped their price objective on ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. UBS Group upped their price objective on ConocoPhillips from $117.00 to $120.00 and gave the company a “buy” rating in a report on Friday, December 12th. Barclays lowered their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Evercore ISI cut their price target on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating for the company in a report on Monday, October 6th. Nineteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.96.

ConocoPhillips Trading Down 1.3%

Shares of NYSE COP opened at $97.44 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $106.20. The company has a market cap of $120.40 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 2.66 and a beta of 0.32. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $91.60 and a 200-day simple moving average of $92.63.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analysts’ expectations of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.ConocoPhillips’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. Sell-side analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.4%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. ConocoPhillips’s payout ratio is 47.52%.

Insider Buying and Selling

In other news, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares in the company, valued at $499,970.24. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the sale, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.24% of the stock is owned by insiders.

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.