CENTRAL TRUST Co Trims Stock Position in ConocoPhillips (NYSE:COP)

CENTRAL TRUST Co trimmed its stake in ConocoPhillips (NYSE:COP) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,323 shares of the energy producer’s stock after selling 188 shares during the period. CENTRAL TRUST Co’s holdings in ConocoPhillips were worth $7,470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT grew its holdings 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 purchasing an additional 228 shares during the last quarter. Values First Advisors Inc. purchased a new position in ConocoPhillips during the 3rd quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips in the third quarter valued at approximately $31,000. Finally, Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages have recently commented on COP. Truist Financial lifted their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. TD Cowen assumed coverage on shares of ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price for the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Price Performance

COP stock opened at $98.70 on Friday. The firm has a 50 day moving average of $101.82 and a 200-day moving average of $106.65. The company has a market cap of $113.59 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.78 and a beta of 1.19. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 earnings per share. As a group, equities analysts expect that ConocoPhillips will post 7.64 EPS for the current fiscal year.

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.