State Street Corp. Amends ConocoPhillips Stake, Signals Confidence

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

From the Filing

0000093751-24-000266.txt : 20240125 0000093751-24-000266.hdr.sgml : 20240125 20240125153052 ACCESSION NUMBER: 0000093751-24-000266 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240125 DATE AS OF CHANGE: 20240125 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CONOCOPHILLIPS CENTRAL INDEX KEY: 0001163165 STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 010562944 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-78580 FILM NUMBER: 24561849 BUSINESS ADDRESS: STREET 1: 925 N. ELDRIDGE PARKWAY CITY: HOUSTON STATE: TX ZIP: 77079 BUSINESS PHONE: 281-293-1000 MAIL ADDRESS: STREET 1: SHIPPING & RECEIVING CENTER STREET 2: 16930 PARK ROW DR. CITY: HOUSTON STATE: TX ZIP: 77084 FORMER COMPANY: FORMER CONFORMED NAME: CORVETTEPORSCHE CORP DATE OF NAME CHANGE: 20011204 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: STATE STREET CORP CENTRAL INDEX KEY: 0000093751 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] ORGANIZATION NAME: 02 Finance IRS NUMBER: 042456637 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 BUSINESS PHONE: 617 786-3000 MAIL ADDRESS: STREET 1: 1 CONGRESS STREET STREET 2: SUITE 1 CITY: BOSTON STATE: MA ZIP: 02114 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET Corp DATE OF NAME CHANGE: 20090218 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET CORP DATE OF NAME CHANGE: 19970424 FORMER COMPANY: FORMER CONFORMED NAME: STATE STREET BOSTON FINANCIAL CORP DATE OF NAME CHANGE: 19780525 SC 13G/A 1 ConocoPhillips.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 AMENDED FILING CONOCOPHILLIPS (NAME OF ISSUER) COMMON STOCK (TITLE OF CLASS OF SECURITIES) 20825C104 (CUSIP NUMBER) 12/31/2023 (DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT) CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE IS FILED: (X) RULE 13D-1 (B) ( ) RULE 13D-1 (C) ( ) RULE 13D-1 (D) *THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING PERSON`S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH WOULD ALTER THE DISCLOSURES PROVIDED IN A PRIOR COVER PAGE. THE INFORMATION REQUIRED IN THE REMAINDER OF THIS COVER PAGE SHALL NOT BE DEEMED TO BE "FILED" FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES EXCHANGE ACT OF 1934 ("ACT") OR OTHERWISE SUBJECT TO THE LIABILITIES OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS OF THE ACT (HOWEVER, SEE THE NOTES). CUSIP NO:20825C104 13G Page 2 of 5 Pages 1. NAME OF REPORTING PERSON: STATE STREET CORPORATION I.R.S. IDENTIFICATION NO. OF THE ABOVE PERSON: 04-2456637 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP NOT APPLICABLE 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION BOSTON, MASSACHUSETTS 5. SOLE VOTING POWER 0 SHARES 6. SHARED VOTING POWER 53,272,891 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 71,511,767 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 71,554,551 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.03% 12. TYPE OF REPORTING PERSON HC CUSIP NO: 20825C104 13G Page 3 of 5 Pages ITEM 1. (A) NAME OF ISSUER CONOCOPHILLIPS (B) ADDRESS OF ISSUER`S PRINCIPAL EXECUTIVE OFFICES 925 NORTH ELDRIDGE PARKWAY HOUSTON TX 77079 UNITED STATES ITEM 2. (A) NAME OF PERSON FILING STATE STREET CORPORATION (B) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE STATE STREET FINANCIAL CENTER 1 CONGRESS STREET, SUITE 1 BOSTON, MA 02114-2016 (FOR ALL REPORTING PERSONS) (C) CITIZENSHIP: SEE ITEM 4 (CITIZENSHIP OR PLACE OF