ConocoPhillips $COP Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in ConocoPhillips (NYSE:COP) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,741,051 shares of the energy producer’s stock after selling 53,650 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of ConocoPhillips worth $343,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $205,858,000. Aviance Capital Partners LLC raised its holdings in shares of ConocoPhillips by 4.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 28,779 shares of the energy producer’s stock worth $3,602,000 after acquiring an additional 1,146 shares during the period. Northern Financial Advisors Inc purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $213,000. Vise Technologies Inc. boosted its position in shares of ConocoPhillips by 19.5% during the 3rd quarter. Vise Technologies Inc. now owns 82,989 shares of the energy producer’s stock valued at $10,386,000 after acquiring an additional 13,525 shares during the last quarter. Finally, Grandfield & Dodd LLC boosted its position in shares of ConocoPhillips by 1.6% during the 3rd quarter. Grandfield & Dodd LLC now owns 39,113 shares of the energy producer’s stock valued at $4,895,000 after acquiring an additional 600 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Higher oil prices—Brent crude was reported near $104 per barrel—are improving the earnings outlook for ConocoPhillips and other exploration and production companies. Analysts also see favorable indicators for a potential third-quarter earnings beat. ConocoPhillips to Report Q3 Earnings: What’s in the Cards?
• Positive Sentiment: ConocoPhillips is being highlighted as a relatively low-beta energy stock that may appeal to investors seeking resilience during market volatility. Its upstream portfolio, growth prospects and investment program are supporting the constructive view. Stay Ahead of Market Uncertainty With BP, XOM, COP and E
• Neutral Sentiment: Several valuation-focused reports describe COP as a strong value stock and emphasize its powerful multiyear performance, while noting that investors must determine whether current earnings can justify the elevated share price. ConocoPhillips Stock Stays Hard To Call On Strong Q2 Earnings
• Neutral Sentiment: Piper Sandler initiated coverage on ConocoPhillips, potentially increasing analyst attention, although the available report does not provide a rating or price target. Piper Sandler Initiates Coverage on ConocoPhillips
• Negative Sentiment: Technical analysts warn that COP may be overbought after its strong gains, with a relative-strength reading above 70. That raises the risk of profit-taking or a pullback if oil prices or earnings disappoint. Top 3 Energy Stocks You May Want To Dump In Q4
• Negative Sentiment: Reported job cuts in Alberta add a near-term reputational and operational concern, while comparisons with Chevron and EOG Resources highlight uncertainty over how well ConocoPhillips’ dividend would hold up during a major oil-price downturn. ConocoPhillips Cuts Alberta Jobs

ConocoPhillips Price Performance

COP stock opened at $154.10 on Friday. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $154.28. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $185.13 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.50 and a beta of 0.24. The business has a fifty day moving average of $136.14 and a two-hundred day moving average of $121.05.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. The company had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. ConocoPhillips’s revenue was up 32.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 earnings per share. As a group, research analysts anticipate that ConocoPhillips will post 11.41 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.2%. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on COP shares. Weiss Ratings raised shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Zacks Research raised shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. William Blair initiated coverage on shares of ConocoPhillips in a research note on Wednesday. They set a “market perform” rating on the stock. Mizuho decreased their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a report on Tuesday, July 7th. Finally, Morgan Stanley increased their price target on shares of ConocoPhillips from $151.00 to $159.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.00.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

ConocoPhillips Profile

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

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.