ConocoPhillips (NYSE:COP) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its position in ConocoPhillips (NYSE:COP) by 13.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 688,965 shares of the energy producer’s stock after selling 107,545 shares during the period. Truist Financial Corp owned 0.06% of ConocoPhillips worth $68,325,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Albion Financial Group UT increased its holdings in shares of ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Values First Advisors Inc. acquired a new position in ConocoPhillips in the third quarter worth $26,000. Reston Wealth Management LLC bought a new stake in ConocoPhillips during the third quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $31,000. Finally, Global Wealth Strategies & Associates lifted its position in shares of ConocoPhillips by 80.5% in the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Down 0.5 %

ConocoPhillips stock opened at $96.39 on Tuesday. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The stock has a market capitalization of $110.93 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.77 and a beta of 1.18. The firm has a 50 day simple moving average of $100.44 and a 200-day simple moving average of $105.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last issued its quarterly 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, equities research analysts expect that ConocoPhillips will post 8.3 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 17th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on COP shares. Piper Sandler lowered their price objective on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Raymond James cut ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Finally, UBS Group reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.56.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction dated 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 purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were bought at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at $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.

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.