Pathway Financial Advisers LLC Has $4.31 Million Position in ConocoPhillips (NYSE:COP)

26 Oct 2024, 16:28 by Tristan Rich · The Markets Daily

Pathway Financial Advisers LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 10,470.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 40,909 shares of the energy producer’s stock after acquiring an additional 40,522 shares during the period. Pathway Financial Advisers LLC’s holdings in ConocoPhillips were worth $4,307,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares during the period. Capital International Investors grew its holdings in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after buying an additional 1,856,085 shares during the period. International Assets Investment Management LLC increased its position in shares of ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after buying an additional 1,194,434 shares in the last quarter. Clearbridge Investments LLC raised its stake in ConocoPhillips by 46.0% during the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after buying an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc grew its stake in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock valued at $351,602,000 after acquiring an additional 712,062 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent analyst reports. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Truist Financial reduced their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, Susquehanna dropped their target price on ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $136.94.

Get Our Latest Analysis on ConocoPhillips

ConocoPhillips Trading Up 0.2 %

NYSE:COP traded up $0.19 during trading hours on Friday, hitting $104.56. 3,823,136 shares of the company were exchanged, compared to its average volume of 5,886,296. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $122.29 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The company has a fifty day simple moving average of $108.47 and a 200 day simple moving average of $113.95.

ConocoPhillips (NYSE:COP – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s quarterly revenue was up 9.7% on a year-over-year basis. Sell-side analysts expect that ConocoPhillips will post 7.95 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

ConocoPhillips Profile

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