Sanibel Captiva Trust Company Inc. Has $3.53 Million Stake in ConocoPhillips (NYSE:COP)

Sanibel Captiva Trust Company Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,512 shares of the energy producer’s stock after selling 3,434 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in ConocoPhillips were worth $3,528,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares during the period. Capital International Investors lifted its position in ConocoPhillips by 9.6% in the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. Clearbridge Investments LLC lifted its position in ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc lifted its position in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after purchasing an additional 712,062 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $111.86 on Friday. The firm has a market capitalization of $129.90 billion, a P/E ratio of 12.47, a PEG ratio of 0.88 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business has a 50-day moving average of $108.89 and a 200-day moving average of $115.76. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. On average, equities analysts anticipate that ConocoPhillips will post 8.02 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. ConocoPhillips’s payout ratio is currently 25.86%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COP. Wells Fargo & Company reduced their target price on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Bank of America restated a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.00.

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.