Trust Co. of Toledo NA OH Grows Position in ConocoPhillips (NYSE:COP)

Trust Co. of Toledo NA OH boosted its stake in shares of ConocoPhillips (NYSE:COP) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,394 shares of the energy producer’s stock after purchasing an additional 787 shares during the period. Trust Co. of Toledo NA OH’s holdings in ConocoPhillips were worth $733,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of COP. Excalibur Management Corp boosted its holdings in shares of ConocoPhillips by 2.4% in the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock valued at $462,000 after acquiring an additional 96 shares during the last quarter. Cypress Capital Group boosted its holdings in shares of ConocoPhillips by 0.5% in the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after acquiring an additional 96 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after acquiring an additional 97 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of ConocoPhillips by 4.0% in the 2nd quarter. Greenwich Wealth Management LLC now owns 2,581 shares of the energy producer’s stock valued at $295,000 after acquiring an additional 99 shares during the last quarter. Finally, MRP Capital Investments LLC boosted its holdings in shares of ConocoPhillips by 4.3% in the 2nd quarter. MRP Capital Investments LLC now owns 2,430 shares of the energy producer’s stock valued at $278,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $104.29 on Tuesday. The company has a fifty day moving average of $104.30 and a two-hundred day moving average of $107.63. The stock has a market capitalization of $120.03 billion, a PE ratio of 12.40, a P/E/G ratio of 0.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 earnings per share. As a group, research analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COP shares. Wells Fargo & Company upped their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Susquehanna boosted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Piper Sandler decreased their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $136.76.

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.