ConocoPhillips (NYSE:COP) Position Boosted by City State Bank

City State Bank grew its holdings in shares of ConocoPhillips (NYSE:COP) by 11.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,927 shares of the energy producer’s stock after purchasing an additional 300 shares during the period. City State Bank’s holdings in ConocoPhillips were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in COP. Dark Forest Capital Management LP purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $247,000. Mariner LLC raised its position in ConocoPhillips by 5.4% during the third quarter. Mariner LLC now owns 219,081 shares of the energy producer’s stock valued at $26,246,000 after acquiring an additional 11,221 shares in the last quarter. Stifel Financial Corp raised its position in ConocoPhillips by 5.2% during the third quarter. Stifel Financial Corp now owns 758,324 shares of the energy producer’s stock valued at $90,847,000 after acquiring an additional 37,808 shares in the last quarter. Federated Hermes Inc. raised its position in ConocoPhillips by 24.9% during the third quarter. Federated Hermes Inc. now owns 344,798 shares of the energy producer’s stock valued at $41,307,000 after acquiring an additional 68,732 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC raised its position in ConocoPhillips by 25.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 11,365 shares of the energy producer’s stock valued at $1,361,000 after acquiring an additional 2,275 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COP. Mizuho cut their price objective on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 5th. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price objective (up previously from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Scotiabank increased their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Barclays increased their price target on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Truist Financial increased their price target on ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE COP traded up $0.01 during midday trading on Friday, reaching $111.34. 27,097,211 shares of the company traded hands, compared to its average volume of 6,051,988. The firm has a market cap of $130.22 billion, a PE ratio of 12.61, a PEG ratio of 1.98 and a beta of 1.22. The stock’s 50-day simple moving average is $119.76 and its 200-day simple moving average is $117.47. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. As a group, equities analysts anticipate that ConocoPhillips will post 8.91 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were given a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a yield of 2.80%. ConocoPhillips’s payout ratio is 26.27%.

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.