Moody National Bank Trust Division Has $1.31 Million Stake in ConocoPhillips (NYSE:COP)

Moody National Bank Trust Division lifted its position in shares of ConocoPhillips (NYSE:COP) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,443 shares of the energy producer’s stock after acquiring an additional 214 shares during the quarter. Moody National Bank Trust Division’s holdings in ConocoPhillips were worth $1,309,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sachetta LLC acquired a new position in ConocoPhillips during the 4th quarter worth about $27,000. Cooksen Wealth LLC acquired a new position in ConocoPhillips during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. lifted its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the period. Richardson Capital Management LLC acquired a new position in ConocoPhillips during the 1st quarter worth about $31,000. Finally, Northwest Bank & Trust Co acquired a new position in ConocoPhillips during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on COP shares. Wells Fargo & Company cut their target price on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday. Mizuho lowered their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Sanford C. Bernstein lowered their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Finally, Truist Financial lowered their price objective on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a research report on Friday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Stock Down 1.1 %

COP traded down $1.20 during midday trading on Monday, reaching $104.57. 8,473,055 shares of the company were exchanged, compared to its average volume of 5,679,975. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.33. The company’s fifty day moving average price is $112.75 and its 200 day moving average price is $117.16. The company has a market cap of $122.30 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the company posted $1.84 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts expect that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. ConocoPhillips’s payout ratio is presently 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.