US Bancorp DE Sells 24,580 Shares of ConocoPhillips (NYSE:COP)

US Bancorp DE lowered its holdings in shares of ConocoPhillips (NYSE:COP) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 825,927 shares of the energy producer’s stock after selling 24,580 shares during the period. US Bancorp DE owned about 0.07% of ConocoPhillips worth $81,907,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Albion Financial Group UT grew its stake in shares of ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the 4th quarter worth $27,000. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips in the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

COP has been the subject of several recent research reports. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Truist Financial raised their price target 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. Evercore ISI reissued an “outperform” rating and issued a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Morgan Stanley began coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Finally, Wells Fargo & Company lowered their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Performance

COP stock opened at $99.12 on Friday. The business has a 50 day moving average of $100.19 and a 200-day moving average of $105.06. The firm has a market cap of $126.12 billion, a PE ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.18. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.15%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

About ConocoPhillips

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.