There's a strong institutional interest in ConocoPhillips (COP), with an 85% ownership level among these investors. The company recently completed its acquisition of Marathon Oil Corporation, which it hopes to generate $1B in synergies from. However, some investors are selling their COP shares, including Banco Santander S.A., Jennison Associates LLC, and Ontario Teachers Pension Plan Board. Several firms, such as Primecap Management Co. CA, have increased their holdings in COP. The oil and gas stock is currently attracting attention from hedge funds, which consider it a promising energy investment. Smead Capital Management Inc. and Pacer Advisors Inc. have notably made substantial purchases. Despite its recent downturn in the stock market, the company stands as an overvalued upstream producer. The Q3 earnings from COP surpassed estimates, showing strong growth and increased production, leading to a share buyback and growth. Intrinsically, COP is believed to be undervalued by 40%. Despite reporting lower oil prices, COP is considered apt for a hold strategy.
Conocophillips COP News Analytics from Tue, 02 Jul 2024 07:00:00 GMT to Sat, 23 Nov 2024 13:41:53 GMT - Rating 2 - Innovation -6 - Information 3 - Rumor -5
