State Street Corp Has $6.04 Billion Position in ConocoPhillips $COP

State Street Corp lowered its holdings in ConocoPhillips (NYSE:COP) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,551,609 shares of the energy producer’s stock after selling 942,607 shares during the quarter. State Street Corp owned about 0.05% of ConocoPhillips worth $6,042,676,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Strive Asset Management LLC acquired a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Board of the Pension Protection Fund acquired a new stake in ConocoPhillips in the 4th quarter valued at $28,000. KERR FINANCIAL PLANNING Corp acquired a new stake in ConocoPhillips in the 3rd quarter valued at $28,000. Sfam LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $34,000. Finally, Optima Capital LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on COP shares. Susquehanna lifted their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on shares of ConocoPhillips from $118.00 to $152.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a research note on Wednesday, June 3rd. UBS Group increased their target price on shares of ConocoPhillips from $130.00 to $144.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Piper Sandler increased their target price on shares of ConocoPhillips from $154.00 to $157.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Seventeen 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, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $134.48.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 113,221 shares of ConocoPhillips stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the sale, the chief executive officer directly owned 350,000 shares in the company, valued at $46,448,500. The trade was a 24.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kelly Brunetti Rose sold 7,700 shares of ConocoPhillips stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $130.03, for a total value of $1,001,231.00. Following the sale, the senior vice president owned 25,284 shares in the company, valued at $3,287,678.52. The trade was a 23.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 634,715 shares of company stock worth $81,410,816 in the last ninety days. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $116.59 on Friday. The firm has a 50-day moving average of $120.62 and a 200-day moving average of $110.46. The company has a market cap of $142.04 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.28 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating the consensus estimate of $1.72 by $0.17. The company had revenue of $15.76 billion during 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 firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.09 earnings per share. Equities research analysts forecast that ConocoPhillips will post 10.03 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips has been trading higher alongside the broader rebound in energy stocks, with crude prices and sector momentum helping support investor demand. ConocoPhillips (COP) Rises Higher Than Market: Key Facts
• Positive Sentiment: Wall Street remains broadly constructive on ConocoPhillips, with reports citing 18 buy ratings and no sell ratings, reinforcing the view that analysts still expect solid upside potential. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Positive Sentiment: ConocoPhillips continues to be highlighted as a strong value stock, which can attract investors looking for cash-flow-generating energy names at reasonable valuations. Here’s Why ConocoPhillips (COP) is a Strong Value Stock
• Neutral Sentiment: ConocoPhillips was included in a TotalEnergies-led offshore exploration MoU in Syria, but the news is early-stage and appears more strategic than immediately material to earnings. TotalEnergies (TTE), QatarEnergy, ConocoPhillips (COP) Sign MoU to Explore Offshore Block 3
• Negative Sentiment: Some commentary suggests the recent rebound may have pushed ConocoPhillips above fair value, with one note arguing the stock could be priced ahead of fundamentals despite the bullish analyst backdrop. Wall Street Has 18 Buy Ratings on ConocoPhillips and Zero Sells. Our Price Target Says They Are All Wrong
• Negative Sentiment: Recent insider selling added a small cautionary note for investors, though the move appears limited relative to the broader bullish trend. Top ConocoPhillips Insider Makes Notable Move in Latest Stock Transaction

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.