10,521 ConocoPhillips $COP Shares Acquired by Cidel Asset Management Inc.

Cidel Asset Management Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,601 shares of the energy producer’s stock after acquiring an additional 10,521 shares during the period. ConocoPhillips accounts for approximately 1.4% of Cidel Asset Management Inc.’s portfolio, making the stock its 22nd biggest position. Cidel Asset Management Inc.’s holdings in ConocoPhillips were worth $27,984,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Carolina Wealth Advisors LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at about $28,000. Frazier Financial Advisors LLC raised its stake in ConocoPhillips by 151.0% during the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the period. Allied Private Wealth LLC purchased a new position in ConocoPhillips during the second quarter worth about $32,000. William Mack & Associates Inc. purchased a new position in ConocoPhillips during the third quarter worth about $34,000. Finally, Evergreen Advisors LLC acquired a new position in ConocoPhillips in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 2.7%

Shares of NYSE:COP opened at $154.10 on Friday. The business has a 50-day moving average price of $136.14 and a 200 day moving average price of $121.05. 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 company has a market capitalization of $185.13 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.50 and a beta of 0.24. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $154.28.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. During the same period in the previous year, the firm earned $1.42 EPS. ConocoPhillips’s revenue was up 32.4% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. ConocoPhillips’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on COP shares. The Goldman Sachs Group reissued a “buy” rating and issued a $157.00 price target on shares of ConocoPhillips in a research note on Tuesday, October 20th. UBS Group raised their price target on shares of ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Stifel Nicolaus started coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target on the stock. Weiss Ratings upgraded ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Finally, Wall Street Zen upgraded ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $145.00.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

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.