Cadence Bank Sells 1,105 Shares of ConocoPhillips (NYSE:COP)

Cadence Bank trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,094 shares of the energy producer’s stock after selling 1,105 shares during the quarter. Cadence Bank’s holdings in ConocoPhillips were worth $3,381,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Morse Asset Management Inc acquired a new position in shares of ConocoPhillips in the third quarter valued at approximately $805,000. Anchor Investment Management LLC lifted its position in ConocoPhillips by 5.5% in the 3rd quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock valued at $1,192,000 after acquiring an additional 589 shares in the last quarter. Fulcrum Equity Management boosted its stake in ConocoPhillips by 24.1% in the 3rd quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock worth $625,000 after purchasing an additional 1,155 shares during the period. World Investment Advisors LLC increased its holdings in ConocoPhillips by 746.7% during the 3rd quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after purchasing an additional 38,740 shares in the last quarter. Finally, Arvest Bank Trust Division acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $11,549,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $116.00 price objective on shares of ConocoPhillips in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial increased their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $128.32.

ConocoPhillips Trading Up 3.0 %

Shares of ConocoPhillips stock opened at $88.96 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business has a fifty day simple moving average of $95.50 and a two-hundred day simple moving average of $101.58. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $130.77. The company has a market capitalization of $112.46 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Research analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

ConocoPhillips 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.