Taikang Asset Management Hong Kong Co Ltd Acquires 25,709 Shares of ConocoPhillips $COP

Taikang Asset Management Hong Kong Co Ltd lifted its holdings in ConocoPhillips (NYSE:COP) by 29.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,480 shares of the energy producer’s stock after acquiring an additional 25,709 shares during the period. ConocoPhillips makes up approximately 1.1% of Taikang Asset Management Hong Kong Co Ltd’s portfolio, making the stock its 24th biggest position. Taikang Asset Management Hong Kong Co Ltd’s holdings in ConocoPhillips were worth $10,623,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in COP. Capital International Investors increased its position in ConocoPhillips by 18.2% in the 3rd quarter. Capital International Investors now owns 45,645,397 shares of the energy producer’s stock valued at $4,318,239,000 after buying an additional 7,037,873 shares in the last quarter. Primecap Management Co. CA boosted its holdings in ConocoPhillips by 31.3% in the third quarter. Primecap Management Co. CA now owns 10,351,010 shares of the energy producer’s stock worth $979,102,000 after acquiring an additional 2,467,555 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ConocoPhillips by 6.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,450,162 shares of the energy producer’s stock valued at $3,880,151,000 after acquiring an additional 2,350,645 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of ConocoPhillips by 20.6% during the third quarter. Ameriprise Financial Inc. now owns 12,994,674 shares of the energy producer’s stock valued at $1,228,886,000 after acquiring an additional 2,216,010 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of ConocoPhillips during the third quarter valued at approximately $135,265,000. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ryan Michael Lance sold 506,800 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $127.26, for a total value of $64,495,368.00. Following the completion of the transaction, the chief executive officer directly owned 6,835 shares of the company’s stock, valued at $869,822.10. This represents a 98.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nicholas G. Olds sold 6,994 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total value of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at approximately $685,488.70. This represents a 56.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 634,715 shares of company stock valued at $81,410,816 in the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Price Performance

COP stock opened at $111.22 on Wednesday. The company has a market capitalization of $135.50 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 1.24 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The business has a 50-day simple moving average of $119.87 and a two-hundred day simple moving average of $110.97.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The business had revenue of $15.76 billion during the quarter, compared to the consensus estimate of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. Research analysts expect that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.0%. ConocoPhillips’s payout ratio is 57.05%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips signed a memorandum of understanding with TotalEnergies, QatarEnergy and the Syrian Petroleum Company to explore offshore Block 3 in the Mediterranean, adding a new potential upstream growth area. ConocoPhillips (COP) Joins TotalEnergies And QatarEnergy For Mediterranean Block 3 Exploration
• Positive Sentiment: The Syria gas deal could help restart production at existing fields and open up new reserves, supporting ConocoPhillips’ longer-term international portfolio and cash flow growth. Syria signs deal with ConocoPhillips, Novaterra to revive gas production
• Neutral Sentiment: Market commentary suggests ConocoPhillips’ Alaska Willow project could materially boost free cash flow over time, but the benefits are still years away and are unlikely to affect the stock immediately. This Top Oil Stock Expects an Unlikely Source to Help It Double Its Free Cash Flow by 2029.
• Negative Sentiment: Energy stocks fell as oil prices weakened after the U.S.–Iran deal, and ConocoPhillips was caught in the broader sector selloff. Sector Update: Energy Stocks Decline Tuesday Afternoon
• Negative Sentiment: Lower oil prices are a headwind for ConocoPhillips because the company’s profits and valuation are closely tied to commodity prices, and traders have been betting on more downside in the stock. How A U.S.–Iran Peace Deal And Syrian Gas Restart At ConocoPhillips (COP) Has Changed Its Investment Story

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada increased their target price on ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Zacks Research lowered shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Roth Mkm downgraded shares of ConocoPhillips from a “buy” rating to a “neutral” rating and set a $112.00 price objective on the stock. in a report on Tuesday, February 17th. Citigroup raised their price objective on shares of ConocoPhillips from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Freedom Capital downgraded shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Seventeen equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.48.

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.