Dockside LLC Purchases New Holdings in ConocoPhillips $COP

Dockside LLC purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 75,520 shares of the energy producer’s stock, valued at approximately $7,069,000. ConocoPhillips comprises about 1.8% of Dockside LLC’s investment portfolio, making the stock its 6th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors boosted its position in ConocoPhillips by 18.2% in 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 buying an additional 7,037,873 shares during the period. Primecap Management Co. CA boosted its position in ConocoPhillips by 31.3% in the 3rd 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 period. Charles Schwab Investment Management Inc. boosted its position in ConocoPhillips by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after buying an additional 2,350,645 shares during the period. Ameriprise Financial Inc. boosted its position in ConocoPhillips by 20.6% in the 3rd 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 period. Finally, Alyeska Investment Group L.P. purchased a new stake in ConocoPhillips in the 3rd quarter valued at about $135,265,000. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 1.1%

NYSE:COP opened at $116.59 on Friday. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87. The firm has a 50 day moving average of $120.62 and a 200 day moving average of $110.46. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $142.04 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.30 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. ConocoPhillips’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 10.03 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 2.9%. ConocoPhillips’s dividend payout ratio is presently 57.05%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 350,000 shares of the company’s stock, valued at $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Nicholas G. Olds sold 6,994 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares of the company’s stock, valued at $685,488.70. The trade was a 56.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 634,715 shares of company stock valued at $81,410,816 over the last 90 days. Insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of several research reports. Mizuho boosted their price objective on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Argus boosted their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Capital One Financial lowered their price target on shares of ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Finally, Raymond James Financial lowered their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research report on Monday, June 1st. Seventeen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $134.48.

More ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here’s Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

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.