ConocoPhillips $COP Position Increased by Montecito Bank & Trust

Montecito Bank & Trust increased its holdings in ConocoPhillips (NYSE:COP) by 43.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,199 shares of the energy producer’s stock after acquiring an additional 5,770 shares during the quarter. Montecito Bank & Trust’s holdings in ConocoPhillips were worth $2,403,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in ConocoPhillips during the 4th quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased its stake in shares of ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after buying an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in ConocoPhillips in the second quarter valued at $32,000. Evergreen Advisors LLC acquired a new stake in ConocoPhillips in the first quarter valued at $36,000. Finally, Ballast Advisors LLC bought a new position in ConocoPhillips during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on COP shares. Barclays reduced their price target on shares of ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Argus boosted their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday, August 19th. UBS Group raised their price objective on ConocoPhillips from $153.00 to $169.00 and gave the stock a “buy” rating in a research note on Monday, September 14th. Raymond James Financial reaffirmed an “underperform” rating and issued a $168.00 price objective on shares of ConocoPhillips in a report on Monday, August 24th. Finally, 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.24.

Insider Buying and Selling at ConocoPhillips

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 value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $1.82 on Thursday, hitting $126.97. The company had a trading volume of 6,069,611 shares, compared to its average volume of 8,204,200. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $141.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The company has a market cap of $152.53 billion, a PE ratio of 16.79, a PEG ratio of 1.32 and a beta of 0.13. The business has a 50-day simple moving average of $128.02 and a 200-day simple moving average of $121.73.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, topping the consensus estimate of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 earnings per share. Research analysts expect that ConocoPhillips will post 10.54 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is currently 44.44%.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Long-term LNG agreement adds future market access. ConocoPhillips agreed to purchase 1 million tonnes per year of LNG from Venture Global for 20 years beginning in 2030. The deal could strengthen COP’s ability to serve global gas markets and secure long-term supply, although the earnings benefit is several years away. ConocoPhillips signs 20-year LNG deal with Venture Global
• Positive Sentiment: Potential asset sale could sharpen the portfolio. ConocoPhillips is reviewing an unsolicited offer for its Norway business and the U.K. Teesside asset. A sale could generate cash, reduce exposure to mature North Sea properties and allow capital to be redirected toward higher-return projects. The financial terms and likelihood of a transaction remain unknown. ConocoPhillips explores sale of Norway business and UK Teesside asset
• Neutral Sentiment: Investors are awaiting details on the proposed divestiture. Management said it is evaluating the offer rather than formally announcing a sale. While monetizing the assets may support capital returns, losing their production and cash flow could offset some of the benefit. ConocoPhillips Receives Offer for Norway Assets, UK Oil Terminal
• Negative Sentiment: Sector conditions remain a headwind. Energy stocks weakened broadly in premarket trading, which could limit COP’s upside despite its company-specific LNG announcement. The stock nevertheless outpaced the broader market in the latest session. Sector Update: Energy Stocks Fall Premarket Thursday

About ConocoPhillips

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.