Banco Bilbao Vizcaya Argentaria S.A. Sells 137,329 Shares of ConocoPhillips $COP

Banco Bilbao Vizcaya Argentaria S.A. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 74.3% during the third quarter, HoldingsChannel.com reports. The firm owned 47,526 shares of the energy producer’s stock after selling 137,329 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in ConocoPhillips were worth $4,498,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital International Investors lifted its holdings in ConocoPhillips by 18.2% in the third 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 during the period. Primecap Management Co. CA grew its holdings in ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after acquiring an additional 3,135,315 shares during the period. Ameriprise Financial Inc. grew its holdings in ConocoPhillips by 31.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares during the period. First Trust Advisors LP raised its position in shares of ConocoPhillips by 146.6% during the 2nd quarter. First Trust Advisors LP now owns 2,315,757 shares of the energy producer’s stock valued at $207,816,000 after acquiring an additional 1,376,509 shares during the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of ConocoPhillips by 8,148.3% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 917,788 shares of the energy producer’s stock valued at $82,362,000 after acquiring an additional 906,661 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on COP. Wolfe Research raised their price target on ConocoPhillips from $122.00 to $123.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Wells Fargo & Company upped their price objective on ConocoPhillips from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Bank of America reissued an “underperform” rating and issued a $102.00 target price on shares of ConocoPhillips in a research note on Friday, January 16th. The Goldman Sachs Group raised their target price on ConocoPhillips from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $119.75.

Insider Activity at ConocoPhillips

In related news, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total value of $1,003,340.00. Following the completion of the transaction, the senior vice president directly owned 32,984 shares in the company, valued at approximately $3,893,431.36. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy A. Leach sold 40,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $118.79, for a total value of $4,751,600.00. Following the sale, the director directly owned 411,211 shares of the company’s stock, valued at approximately $48,847,754.69. The trade was a 8.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 600,884 shares of company stock valued at $58,250,367 over the last 90 days. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $121.37 on Tuesday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $122.50. The firm has a market capitalization of $149.98 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.89 and a beta of 0.27. The company has a quick ratio of 1.14, a current ratio of 1.30 and a debt-to-equity ratio of 0.35. The firm has a fifty day moving average of $107.06 and a 200-day moving average of $97.09.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.21). The business had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.35 billion. ConocoPhillips had a return on equity of 11.90% and a net margin of 12.98%.The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.98 EPS. On average, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, February 18th. ConocoPhillips’s dividend payout ratio is 53.00%.

Key ConocoPhillips News

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Barclays raised its price target to $128 and maintained an “overweight” rating, giving explicit analyst support and upside to the stock. This upgrade is a near-term bullish catalyst. Read More.
• Positive Sentiment: Piper Sandler bumped its COP price target to $154 (from $111), a much more aggressive bullish view that can underpin buying interest from institutional investors. Read More.
• Positive Sentiment: Industry commentary: U.S. oil CEOs (including ConocoPhillips’ peers) warned officials the Iran-related energy crisis could worsen — a development that typically supports higher oil prices and benefits oil producers’ earnings and cash flow. Read More.
• Neutral Sentiment: Market chatter flagged executive caution about ongoing volatility in energy markets; this underscores uncertainty (volatility can lift oil-company revenues but also increase stock-price swings). Read More.
• Negative Sentiment: Large insider sales: EVP Nicholas Olds sold 14,522 shares (~53.96% reduction of his holding) at ~$119.36 — a material, disclosed sale that can pressure the stock and prompt investor questions about timing. Read More.
• Negative Sentiment: Senior VP Andrew Lundquist sold 34,500 shares (a ~66% reduction) at ~$119.68 — another sizable executive sale that likely amplified selling sentiment today. Read More.
• Negative Sentiment: Senior VP Heather Hrap sold 2,654 shares (~31.9% reduction) at ~$119.68 — adds to the pattern of senior-level profit-taking disclosed this week. Read More.

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.