Assenagon Asset Management S.A. Boosts Stake in ConocoPhillips $COP

Assenagon Asset Management S.A. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 49.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,708,828 shares of the energy producer’s stock after acquiring an additional 566,295 shares during the period. Assenagon Asset Management S.A.’s holdings in ConocoPhillips were worth $225,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Nicolet Advisory Services LLC grew its position in shares of ConocoPhillips by 0.9% in the fourth quarter. Nicolet Advisory Services LLC now owns 10,352 shares of the energy producer’s stock valued at $989,000 after purchasing an additional 95 shares during the period. Duncan Williams Asset Management LLC raised its holdings in shares of ConocoPhillips by 4.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 2,370 shares of the energy producer’s stock valued at $222,000 after acquiring an additional 100 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in shares of ConocoPhillips by 4.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 2,570 shares of the energy producer’s stock valued at $241,000 after acquiring an additional 101 shares in the last quarter. Strategic Blueprint LLC boosted its stake in shares of ConocoPhillips by 1.3% in the fourth quarter. Strategic Blueprint LLC now owns 8,018 shares of the energy producer’s stock worth $751,000 after acquiring an additional 101 shares during the last quarter. Finally, Chesapeake Wealth Management boosted its stake in shares of ConocoPhillips by 1.5% in the fourth quarter. Chesapeake Wealth Management now owns 7,160 shares of the energy producer’s stock worth $670,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of ConocoPhillips from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Truist Financial set a $128.00 price objective on shares of ConocoPhillips in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Scotiabank lifted their target price on shares of ConocoPhillips from $100.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Mizuho boosted their target price on shares of ConocoPhillips from $136.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $134.32.

Insider Transactions at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 113,221 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This represents a 24.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Down 2.6%

ConocoPhillips stock opened at $107.10 on Thursday. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $135.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a 50 day moving average price of $117.80 and a 200 day moving average price of $111.77. The company has a market capitalization of $130.48 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.22 and a beta of 0.11.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The company had revenue of $15.76 billion for the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. Research analysts expect that ConocoPhillips will post 10.03 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Roth Capital upgraded ConocoPhillips to Buy from Neutral, which can support the stock by signaling improved upside potential and valuation appeal. Roth Capital Upgrades ConocoPhillips (COP) to Buy. Here is Why
• Positive Sentiment: ConocoPhillips was highlighted among top S&P 500 dividend stocks, with an annual dividend yield around 3%, reinforcing its appeal for income-focused investors. 5 Best S&P 500 Stocks to Buy for Dividends
• Neutral Sentiment: Commentary suggested COP could benefit if crude prices remain firm, but the article was largely speculative and did not include a concrete catalyst. Should You Buy ConocoPhillips With Oil Below $75 a Barrel?
• Neutral Sentiment: Several energy-sector pieces focused on upstream pricing and crude-market conditions, which underscore that COP’s near-term direction remains closely tied to oil prices. ConocoPhillips (NYSE:COP) Slips As Crude Oil Pressure Builds
• Negative Sentiment: Recent coverage noted ConocoPhillips slipped as crude oil pressure built, and a broader risk-off tone in energy has likely contributed to the stock’s decline. ConocoPhillips (COP) Registers a Bigger Fall Than the Market: Important Facts to Note

ConocoPhillips Company 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.