ConocoPhillips $COP Stake Boosted by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its position in shares of ConocoPhillips (NYSE:COP) by 7.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 244,022 shares of the energy producer’s stock after acquiring an additional 17,954 shares during the quarter. Kestra Advisory Services LLC’s holdings in ConocoPhillips were worth $30,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Claro Advisors Inc. boosted its stake in shares of ConocoPhillips by 42.0% in the 3rd quarter. Claro Advisors Inc. now owns 5,549 shares of the energy producer’s stock worth $694,000 after buying an additional 1,642 shares during the last quarter. REAP Financial Group LLC increased its position in shares of ConocoPhillips by 7.9% during the third quarter. REAP Financial Group LLC now owns 3,156 shares of the energy producer’s stock valued at $395,000 after acquiring an additional 231 shares during the last quarter. Brady Family Wealth LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $232,000. Platform Technology Partners increased its position in shares of ConocoPhillips by 3.1% during the third quarter. Platform Technology Partners now owns 20,880 shares of the energy producer’s stock valued at $2,613,000 after acquiring an additional 627 shares during the last quarter. Finally, Wealth Dimensions Group Ltd. lifted its holdings in ConocoPhillips by 7.5% during the third quarter. Wealth Dimensions Group Ltd. now owns 3,873 shares of the energy producer’s stock worth $485,000 after acquiring an additional 271 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several research analyst reports. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Argus lifted their target price on ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Truist Financial boosted their price target on shares of ConocoPhillips from $130.00 to $136.00 and gave the stock a “hold” rating in a report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.04.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on 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 transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong Q3 results: ConocoPhillips reported adjusted earnings of $3.27 per share, above estimates, as higher realized commodity prices helped more than double earnings year over year. Revenue also topped expectations, and operating cash flow reached $7.2 billion. Article: ConocoPhillips Q3 Earnings Beat Estimates on Higher Commodity Prices
• Positive Sentiment: Higher shareholder payout and cash-flow ambitions: The company increased its quarterly dividend about 11%, to $0.93 per share. Management also reiterated a plan for roughly $7 billion in additional free cash flow by 2029, supported by lower capital spending, production growth and shareholder returns. Article: Is ConocoPhillips a Buy After Its Latest Earnings Report?
• Positive Sentiment: Willow project progress: The Alaska project is approaching a key milestone, with drilling targeted for 2027, supporting the company’s future production outlook. Article: ConocoPhillips eyes Willow drilling in 2027 as Alaska project reaches key milestone
• Neutral Sentiment: Analyst view remains favorable, but one target was trimmed: Wells Fargo lowered its price target from $189 to $185 while retaining an Overweight rating. Article: Wells Fargo recommendations
• Negative Sentiment: Production and price sensitivity: Output declined in the quarter, even as higher oil prices boosted results. That leaves earnings and cash returns exposed if commodity prices retreat. ETFs were also net sellers of about $22.9 million of COP shares on Nov. 4, a modest near-term pressure. Article: ETFs Are Net Sellers of ConocoPhillips

ConocoPhillips Stock Performance

Shares of COP stock traded up $0.92 during trading hours on Friday, hitting $136.38. 7,656,178 shares of the company were exchanged, compared to its average volume of 5,991,996. 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 stock has a market capitalization of $163.84 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.43 and a beta of 0.16. The firm has a fifty day simple moving average of $136.92 and a 200 day simple moving average of $122.10. ConocoPhillips has a 52-week low of $85.59 and a 52-week high of $154.28.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 EPS for the quarter, beating the consensus estimate of $3.05 by $0.22. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. ConocoPhillips’s revenue for the quarter was up 29.2% on a year-over-year basis. Research analysts predict that ConocoPhillips will post 11.81 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be paid a $0.93 dividend. The ex-dividend date is Monday, November 16th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio is presently 44.44%.

ConocoPhillips Profile

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.