Salem Investment Counselors Inc. Purchases 115,829 Shares of ConocoPhillips $COP

Salem Investment Counselors Inc. lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 1,909.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,894 shares of the energy producer’s stock after acquiring an additional 115,829 shares during the quarter. Salem Investment Counselors Inc.’s holdings in ConocoPhillips were worth $15,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the last quarter. BlackRock Inc. increased its holdings in ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock worth $9,760,436,000 after buying an additional 2,712,703 shares during the last quarter. Wellington Management Group LLP raised its position in ConocoPhillips by 12.0% in the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock worth $1,566,901,000 after acquiring an additional 1,609,759 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ConocoPhillips by 0.7% in 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 period. Finally, Bank of New York Mellon Corp increased its position in ConocoPhillips by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 10,181,950 shares of the energy producer’s stock worth $1,344,017,000 after buying an additional 995,392 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Energy stocks benefited from higher oil prices linked to geopolitical tensions, including the Iran conflict. That backdrop supported ConocoPhillips and helped the stock outperform the broader market. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: Investors are showing interest in ConocoPhillips’ growing free-cash-flow profile, which can support shareholder returns, debt management and valuation. ConocoPhillips Ramping Free Cash Flow Profile Drives Investor Interest
• Positive Sentiment: ConocoPhillips was highlighted among energy companies with an A+ profitability grade, reinforcing the view that its operating performance compares favorably with industry peers. ConocoPhillips, Chevron Among Eight Energy Stocks With A+ Profitability Grades
• Positive Sentiment: Zacks commentary identified COP as attractive from both value and growth perspectives, potentially broadening its appeal beyond oil-focused investors. Separate analysis also pointed to the possibility of an earnings surprise. Why ConocoPhillips Is a Top Value Stock for the Long-Term
• Neutral Sentiment: Recent coverage notes that COP has been trading within a range for several months. Options traders view that pattern as suitable for short-put or put-credit-spread strategies, but the setup does not provide a fundamental catalyst by itself. ConocoPhillips Stock Has Been in a Trading Range

ConocoPhillips Trading Up 2.5%

NYSE:COP opened at $141.02 on Wednesday. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $141.62. The stock’s fifty day moving average price is $130.48 and its two-hundred day moving average price is $122.15. 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 company has a market cap of $169.42 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.41 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. As a group, analysts expect that ConocoPhillips will post 10.84 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. The ex-dividend date was Monday, August 17th. This represents a $3.36 annualized dividend and a yield of 2.4%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Insider Buying and Selling

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of ConocoPhillips stock in a transaction dated 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 owned 9,593 shares of the company’s stock, valued at $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Seaport Research Partners began coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating on the stock. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Jefferies Financial Group increased their target price on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Finally, Mizuho reduced their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $143.29.

About ConocoPhillips

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.