State Street Corp. Amends ConocoPhillips Stake, Signals Confidence
Ticker: COP · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1163165
| Field | Detail |
|---|---|
| Company | Conocophillips (COP) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**State Street just updated its ConocoPhillips holdings, confirming its continued passive investment.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 25, 2024, disclosing its ownership of ConocoPhillips common stock as of December 31, 2023. This filing indicates that State Street holds a significant, though passive, stake in ConocoPhillips, an oil and gas company. This matters to investors because large institutional holdings like State Street's can signal confidence in the company's long-term prospects and provide a degree of stability to the stock.
Why It Matters
This filing shows that a major institutional investor, State Street Corporation, maintains a significant, passive stake in ConocoPhillips, which can be a positive signal for other investors.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate or significant risk to ConocoPhillips or its shareholders.
Analyst Insight
Investors should note that a major institutional player like State Street Corporation holds a passive stake in ConocoPhillips, which can be a sign of long-term stability, but this filing alone doesn't suggest immediate buying or selling action.
Key Numbers
- 20825C104 — CUSIP Number (identifies ConocoPhillips' common stock)
- 04-2456637 — IRS Identification No. (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person filing the SC 13G/A
- ConocoPhillips (company) — the subject company whose common stock is being reported
- 0000093751-24-000266 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — the date of the event requiring the filing
- January 25, 2024 (date) — the date the filing was made
Forward-Looking Statements
- State Street Corporation will likely maintain a significant, passive stake in ConocoPhillips throughout 2024. (State Street Corporation) — high confidence, target: 2024-12-31
FAQ
Who filed this SC 13G/A amendment?
State Street Corporation, a financial institution with IRS Identification No. 04-2456637, filed this SC 13G/A amendment.
What company's stock is the subject of this filing?
The subject company for this filing is ConocoPhillips, identified by CUSIP Number 20825C104, which trades common stock.
What was the 'date of event' that triggered this filing?
The 'date of event which requires filing of this statement' was December 31, 2023, as stated in the filing.
When was this SC 13G/A amendment filed with the SEC?
This SC 13G/A amendment was filed on January 25, 2024, according to the 'FILED AS OF DATE' and 'DATE AS OF CHANGE' in the header.
Under which SEC rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13D-1 (B), as indicated by the 'X' in the appropriate box on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding CONOCOPHILLIPS (COP).