Institutional Investors Adjust Holdings in ConocoPhillips
3 reports, 2 independent
Updated Oct 17
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What happened
In the third quarter, Ninety One SA Pty Ltd reduced its stake in ConocoPhillips by 4.4%, selling 5,511 shares. During the second quarter, State Street Corp boosted its holdings by 73.2%, while BlackRock Inc. grew its stake by 3.0% and Wellington Management Group LLP increased its stake by 12.0%.
From dailypolitical.com
Why it matters
Changes in major institutional holdings reflect investor sentiment regarding the energy producer. Significant increases by firms like State Street Corp and BlackRock Inc. suggest confidence in ConocoPhillips' future performance.
From dailypolitical.com
Who's involved
- ConocoPhillipsAmerican oil and gas company subject to investment changes
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The entities involved
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ConocoPhillips
American oil and gas company
- MarketBeat reports average ratings and consensus price targets for ConocoPhillips, following rating updates from Raymond James Financial and Truist Financial.
- Oil majors, including ExxonMobil and ConocoPhillips, are seeking to restart production and secure durable contracts for Venezuela's vast oil reserves.