Moody National Bank Trust Division raised its stake in shares of ConocoPhillips (NYSE:COP – Get Rating) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,231 shares of the energy producer’s stock after purchasing an additional 439 shares during the quarter. Moody National Bank Trust Division’s holdings in ConocoPhillips were worth $2,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of COP. Fairfield Bush & CO. bought a new position in ConocoPhillips in the first quarter valued at $31,000. Cetera Investment Advisers boosted its holdings in shares of ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock valued at $51,213,000 after purchasing an additional 9,313 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of ConocoPhillips by 59.1% during the 1st quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after buying an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in ConocoPhillips by 21.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after buying an additional 2,465 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Insider Activity at ConocoPhillips
In related news, Director R A. Walker bought 4,800 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were purchased at an average cost of $103.00 per share, with a total value of $494,400.00. Following the completion of the purchase, the director now owns 27,600 shares in the company, valued at approximately $2,842,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by corporate insiders.
ConocoPhillips Stock Down 2.1 %
ConocoPhillips (NYSE:COP – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The energy producer reported $2.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.01). The business had revenue of $19.26 billion for the quarter, compared to analysts’ expectations of $18.16 billion. ConocoPhillips had a net margin of 22.74% and a return on equity of 35.30%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $2.27 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 11.79 earnings per share for the current year.
ConocoPhillips Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Investors of record on Wednesday, March 29th will be paid a $0.51 dividend. The ex-dividend date is Tuesday, March 28th. This represents a $2.04 annualized dividend and a dividend yield of 2.16%. ConocoPhillips’s payout ratio is currently 14.06%.
Analysts Set New Price Targets
A number of brokerages have commented on COP. Piper Sandler increased their price target on shares of ConocoPhillips from $155.00 to $157.00 and gave the company an “overweight” rating in a research report on Monday, December 19th. Capital One Financial cut shares of ConocoPhillips from an “overweight” rating to an “equal weight” rating and set a $102.00 target price on the stock. in a research report on Friday, February 3rd. Morgan Stanley increased their target price on ConocoPhillips from $120.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, December 14th. Citigroup cut their target price on shares of ConocoPhillips from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, February 27th. Finally, Credit Suisse Group lowered their price target on shares of ConocoPhillips from $145.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.86.
ConocoPhillips Company Profile
ConocoPhillips engages in the exploration, production, transportation and marketing of crude oil, bitumen, natural gas, natural gas liquids, and liquefied natural gas on a worldwide basis. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, Middle East and North Africa, Asia Pacific, and Other International.
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