Gabelli Funds LLC Sells 7,000 Shares of ConocoPhillips $COP

Gabelli Funds LLC lowered its stake in ConocoPhillips (NYSE:COP) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 493,630 shares of the energy producer’s stock after selling 7,000 shares during the quarter. Gabelli Funds LLC’s holdings in ConocoPhillips were worth $46,209,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. North Dakota State Investment Board bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $4,065,000. Elyxium Wealth LLC bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $104,000. May Hill Capital LLC increased its stake in shares of ConocoPhillips by 102.8% in the 4th quarter. May Hill Capital LLC now owns 6,340 shares of the energy producer’s stock valued at $593,000 after acquiring an additional 3,214 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its stake in shares of ConocoPhillips by 59.5% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 49,676 shares of the energy producer’s stock valued at $4,650,000 after acquiring an additional 18,534 shares in the last quarter. Finally, Lawood & Co. bought a new stake in shares of ConocoPhillips in the 4th quarter valued at $536,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $122.36 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market capitalization of $149.07 billion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.41 and a beta of 0.14. The firm’s fifty day moving average price is $123.07 and its two-hundred day moving average price is $106.37. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 EPS. As a group, analysts anticipate that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on COP shares. Argus lifted their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Citigroup lifted their price target on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of ConocoPhillips from $98.00 to $103.00 and gave the company a “neutral” rating in a research report on Friday, February 6th. Barclays lifted their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Zacks Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $133.16.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Argus raised its price target on ConocoPhillips to $136 from $128 and kept a Buy rating, signaling more upside potential for the shares. MarketScreener
• Positive Sentiment: Scotiabank lifted FY2026 and FY2027 earnings estimates for ConocoPhillips, reflecting improved expectations for the company’s profitability. MarketBeat report
• Positive Sentiment: Norway approved redevelopment plans for the Greater Ekofisk area, and ConocoPhillips also signed an offshore exploration memorandum of understanding in Syria, which could support future reserve and production growth. Yahoo Finance
• Positive Sentiment: Energy stocks broadly moved higher as oil prices stayed firm, which tends to improve sentiment for upstream producers like ConocoPhillips. Yahoo Finance sector update
• Neutral Sentiment: ConocoPhillips’ Q1 earnings-related coverage focused on comparing revenue, EPS, and key metrics with Wall Street estimates, with no major surprise highlighted in the summary provided. Zacks
• Neutral Sentiment: Shareholders approved board governance and auditors at the annual meeting, removing a routine governance overhang but not changing the core investment outlook. TipRanks

Insider Activity

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 34,500 shares of ConocoPhillips stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total transaction of $4,128,960.00. Following the transaction, the senior vice president directly owned 17,469 shares of the company’s stock, valued at $2,090,689.92. The trade was a 66.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy A. Leach sold 40,000 shares of ConocoPhillips stock in a transaction on Friday, March 6th. The stock was sold at an average price of $118.79, for a total transaction of $4,751,600.00. Following the transaction, the director directly owned 411,211 shares in the company, valued at $48,847,754.69. This represents a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 734,891 shares of company stock worth $93,345,692. Company insiders own 0.09% of the company’s stock.

About ConocoPhillips

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.