Federated Hermes Inc. Has $21.40 Million Stake in ConocoPhillips $COP

Federated Hermes Inc. raised its position in shares of ConocoPhillips (NYSE:COP) by 43.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 226,246 shares of the energy producer’s stock after purchasing an additional 68,581 shares during the quarter. Federated Hermes Inc.’s holdings in ConocoPhillips were worth $21,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of COP. Heartland Bank & Trust Co increased its holdings in shares of ConocoPhillips by 97.2% during the 2nd quarter. Heartland Bank & Trust Co now owns 6,861 shares of the energy producer’s stock valued at $616,000 after acquiring an additional 3,381 shares during the last quarter. Tema Etfs LLC bought a new stake in ConocoPhillips during the third quarter worth approximately $1,804,000. D.A. Davidson & CO. grew its holdings in ConocoPhillips by 12.1% during the third quarter. D.A. Davidson & CO. now owns 140,829 shares of the energy producer’s stock valued at $13,321,000 after purchasing an additional 15,202 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of ConocoPhillips by 3.2% in the third quarter. Chilton Capital Management LLC now owns 389,995 shares of the energy producer’s stock valued at $36,890,000 after purchasing an additional 11,958 shares during the period. Finally, StoneX Group Inc. lifted its stake in shares of ConocoPhillips by 510.5% in the second quarter. StoneX Group Inc. now owns 29,285 shares of the energy producer’s stock worth $2,628,000 after buying an additional 24,488 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.4%

COP stock opened at $104.25 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $106.20. 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 company has a market cap of $128.82 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 3.26 and a beta of 0.32. The business’s 50-day simple moving average is $94.70 and its 200 day simple moving average is $93.25.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The company had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. During the same quarter last year, the company earned $1.78 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 17th were paid a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on COP shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a research note on Monday, December 29th. Evercore ISI lowered their price target on ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada boosted their price objective on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. The Goldman Sachs Group raised their target price on ConocoPhillips from $108.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, UBS Group lifted their price target on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Sixteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $110.96.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director William H. Mcraven acquired 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the purchase, the director owned 5,768 shares in the company, valued at $499,970.24. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This trade represents a 60.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.24% of the company’s stock.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Federal judge cleared ConocoPhillips to proceed with its winter drilling program in Alaska, reducing near-term legal uncertainty that could have delayed production and spending. Federal judge rules that ConocoPhillips can proceed with winter drilling program
• Positive Sentiment: Regulatory clearance was echoed in coverage that a judge “green-lit” COP’s Alaska drilling program, further lowering execution risk for Arctic activity. Judge green-lights ConocoPhillips Alaska oil drilling program
• Positive Sentiment: Geopolitical risk has pushed oil prices higher (Iran/strait-of-Hormuz concerns), which benefits integrated E&P names like ConocoPhillips through stronger commodity realizations and cash flow. Oil Rallies On Iran War Fears – 5 Integrated Energy Giants With Big Dividends
• Neutral Sentiment: ConocoPhillips says its plans for four new Arctic wells are unaffected by the toppled rig, which suggests management expects limited near-term disruption to the development schedule. ConocoPhillips’ plans for 4 new Arctic wells unaffected by toppled rig, company says
• Neutral Sentiment: Coverage notes the company called the Doyon rig destruction “a sad day” but downplayed major impacts; investors should watch for official damage/insurance updates. ConocoPhillips execs call Doyon oil rig destruction a ‘sad day,’ but no major impacts expected
• Negative Sentiment: An Arctic rig toppled and ignited a fire — an operational and reputational risk that could lead to added costs, regulatory scrutiny or delays if follow-up inspections or litigation arise. Monitor incident reports and any updates from regulators. As an Oil Rig Topples in the Alaskan Arctic and Ignites a Fire, Exploration There Continues
• Negative Sentiment: Analysts expect a year-over-year earnings decline for the upcoming quarter, which could cap near-term upside if results miss expectations or guidance is cautious. Analysts Estimate ConocoPhillips (COP) to Report a Decline in Earnings: What to Look Out for

ConocoPhillips 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.