Westpac Banking Corp purchased a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 10,126 shares of the energy producer's stock, valued at approximately $1,053,000.

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Other institutional investors have also added to or reduced their stakes in the company. TRB Wealth Management LLC acquired a new position in shares of ConocoPhillips during the second quarter worth $564,000. Sumitomo Life Insurance Co. acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at $1,324,000. Korea Investment CORP acquired a new stake in shares of ConocoPhillips during the 2nd quarter valued at $65,333,000. EP Wealth Advisors LLC acquired a new position in ConocoPhillips in the 2nd quarter worth about $5,677,000. Finally, Heartland Bank & Trust Co acquired a new position in ConocoPhillips in the 2nd quarter worth about $719,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen raised ConocoPhillips from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded ConocoPhillips from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Raymond James Financial lowered their price objective on ConocoPhillips from $145.00 to $142.00 and set an "outperform" rating for the company in a research note on Monday, June 1st. Royal Bank Of Canada set a $130.00 price objective on shares of ConocoPhillips in a report on Monday, June 22nd. Finally, Morgan Stanley lifted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $139.21.

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Get Our Latest Analysis on ConocoPhillips

Trending Headlines about ConocoPhillips

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips reported adjusted earnings of $3.24 per share, exceeding the $2.90 consensus estimate, while revenue reached $19.52 billion. The company also generated $7.2 billion in operating cash flow, doubled share repurchases and declared an $0.84 quarterly dividend, reinforcing confidence in cash generation and shareholder returns. ConocoPhillips Beats Earnings and Names New CEO
• Positive Sentiment: Higher crude prices have supported a broader energy-sector rally and improved the near-term earnings outlook for upstream producers such as COP. Analysts have also issued mostly favorable ratings, with a reported median price target of $146. ConocoPhillips Gains as Higher Oil Prices Add to Post-Earnings Momentum
• Positive Sentiment: Investors see additional upside if the company successfully executes its LNG strategy and Willow development. One analysis estimates COP could be approximately 6% below fair value under that growth scenario. ConocoPhillips Could Be 6% Below Fair Value If LNG and Willow Deliver
• Neutral Sentiment: Management is undergoing succession changes, including CEO Ryan Lance’s retirement and internal finance leadership appointments. The insider promotions provide continuity, but investors will monitor whether the new leadership maintains disciplined capital allocation. ConocoPhillips Gives Finance Chief Role to Insider
• Negative Sentiment: After its sharp advance, COP trades at a premium valuation, increasing sensitivity to oil prices and execution. Recent disclosures also show substantial insider selling, which could temper enthusiasm even though institutional and analyst activity remains broadly supportive. Is ConocoPhillips Stock a Buy as Growth Meets a Premium Valuation?

ConocoPhillips Stock Up 0.4%

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Shares of NYSE:COP opened at $135.45 on Friday. The firm has a market cap of $162.72 billion, a P/E ratio of 17.92, a P/E/G ratio of 1.43 and a beta of 0.11. ConocoPhillips has a 12-month low of $85.57 and a 12-month high of $135.88. The business has a fifty day simple moving average of $115.30 and a 200 day simple moving average of $117.66. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.34. The firm had revenue of $19.52 billion for the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The business's revenue was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.42 EPS. Analysts predict that ConocoPhillips will post 10.46 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips's payout ratio is currently 44.44%.

ConocoPhillips Company Profile

(Free Report)

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.

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