ConocoPhillips $COP Shares Acquired by Calamos Advisors LLC

Calamos Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 237,704 shares of the energy producer’s stock after purchasing an additional 4,809 shares during the quarter. Calamos Advisors LLC’s holdings in ConocoPhillips were worth $29,749,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in shares of ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock valued at $12,328,767,000 after acquiring an additional 50,116,727 shares during the period. BlackRock Inc. raised its position in ConocoPhillips by 3.0% in the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after purchasing an additional 2,712,703 shares during the period. Wellington Management Group LLP raised its position in ConocoPhillips by 12.0% in the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after purchasing an additional 1,609,759 shares during the period. Bank of America Corp DE acquired a new position in shares of ConocoPhillips during the second quarter worth about $1,260,482,000. Finally, Primecap Management Co. CA acquired a new position in shares of ConocoPhillips during the second quarter worth about $1,204,726,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Strong Q3 results: ConocoPhillips reported adjusted earnings of $3.27 per share, above estimates, as higher realized commodity prices helped more than double earnings year over year. Revenue also topped expectations, and operating cash flow reached $7.2 billion. Article: ConocoPhillips Q3 Earnings Beat Estimates on Higher Commodity Prices
• Positive Sentiment: Higher shareholder payout and cash-flow ambitions: The company increased its quarterly dividend about 11%, to $0.93 per share. Management also reiterated a plan for roughly $7 billion in additional free cash flow by 2029, supported by lower capital spending, production growth and shareholder returns. Article: Is ConocoPhillips a Buy After Its Latest Earnings Report?
• Positive Sentiment: Willow project progress: The Alaska project is approaching a key milestone, with drilling targeted for 2027, supporting the company’s future production outlook. Article: ConocoPhillips eyes Willow drilling in 2027 as Alaska project reaches key milestone
• Neutral Sentiment: Analyst view remains favorable, but one target was trimmed: Wells Fargo lowered its price target from $189 to $185 while retaining an Overweight rating. Article: Wells Fargo recommendations
• Negative Sentiment: Production and price sensitivity: Output declined in the quarter, even as higher oil prices boosted results. That leaves earnings and cash returns exposed if commodity prices retreat. ETFs were also net sellers of about $22.9 million of COP shares on Nov. 4, a modest near-term pressure. Article: ETFs Are Net Sellers of ConocoPhillips

Analyst Upgrades and Downgrades

COP has been the subject of a number of recent research reports. Raymond James Financial reiterated an “outperform” rating and issued a $170.00 target price on shares of ConocoPhillips in a research note on Monday. Truist Financial lifted their price objective on shares of ConocoPhillips from $130.00 to $136.00 and gave the company a “hold” rating in a research note on Wednesday, October 7th. William Blair assumed coverage on shares of ConocoPhillips in a research report on Wednesday, October 28th. They set a “market perform” rating on the stock. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $161.00 to $175.00 and gave the company a “positive” rating in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $145.04.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Up 0.7%

COP traded up $0.92 on Friday, reaching $136.38. The company’s stock had a trading volume of 7,656,178 shares, compared to its average volume of 5,991,996. The stock has a market cap of $163.84 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 1.43 and a beta of 0.16. ConocoPhillips has a 1 year low of $85.59 and a 1 year high of $154.28. 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 business’s 50 day moving average is $136.92 and its 200 day moving average is $122.10.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 5th. The energy producer reported $3.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.05 by $0.22. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The company had revenue of $19.43 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the business earned $1.61 EPS. ConocoPhillips’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, research analysts forecast that ConocoPhillips will post 11.81 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Monday, November 16th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips’s dividend payout ratio is 44.44%.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company focused on finding, developing and producing oil and natural gas. Its products include crude oil, natural gas, liquefied natural gas and natural gas liquids.

The company operates in several regions, including North America, Europe, the Middle East, North Africa and the Asia-Pacific. Its activities span exploration, development and production, with a portfolio that includes both conventional and unconventional resources.

ConocoPhillips was formed in 2002 through the merger of Conoco and Phillips Petroleum.