VeraBank N.A. Has $283,000 Stock Holdings in ConocoPhillips (NYSE:COP)

VeraBank N.A. trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 12.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,857 shares of the energy producer’s stock after selling 414 shares during the period. VeraBank N.A.’s holdings in ConocoPhillips were worth $283,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of COP. State Street Corp lifted its position in shares of ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after purchasing an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP lifted its position in ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after buying an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC lifted its position in ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after buying an additional 924,289 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after acquiring an additional 4,656,040 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Arjun N. Murti bought 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 0.5 %

Shares of ConocoPhillips stock opened at $96.39 on Friday. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company’s fifty day simple moving average is $100.44 and its 200-day simple moving average is $105.76. The company has a market cap of $110.93 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, sell-side analysts expect that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is 40.05%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.56.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.