ConocoPhillips (NYSE:COP) Shares Bought by Equitable Trust Co.

Equitable Trust Co. raised its position in ConocoPhillips (NYSE:COP) by 22.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,794 shares of the energy producer’s stock after acquiring an additional 2,199 shares during the quarter. Equitable Trust Co.’s holdings in ConocoPhillips were worth $1,170,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Bristlecone Advisors LLC grew its holdings in ConocoPhillips by 5.7% in the fourth quarter. Bristlecone Advisors LLC now owns 7,663 shares of the energy producer’s stock valued at $760,000 after purchasing an additional 410 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in ConocoPhillips by 191.6% in the fourth quarter. Soltis Investment Advisors LLC now owns 41,046 shares of the energy producer’s stock valued at $4,071,000 after purchasing an additional 26,970 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of ConocoPhillips in the fourth quarter valued at $36,000. Savant Capital LLC lifted its position in shares of ConocoPhillips by 38.6% in the fourth quarter. Savant Capital LLC now owns 47,405 shares of the energy producer’s stock valued at $4,701,000 after acquiring an additional 13,199 shares in the last quarter. Finally, Angeles Wealth Management LLC lifted its position in shares of ConocoPhillips by 13.1% in the fourth quarter. Angeles Wealth Management LLC now owns 8,994 shares of the energy producer’s stock valued at $892,000 after acquiring an additional 1,040 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In related news, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $99.39 on Tuesday. The firm has a market capitalization of $114.39 billion, a PE ratio of 12.76, a P/E/G ratio of 0.77 and a beta of 1.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.16. The business has a 50-day moving average of $101.05 and a two-hundred day moving average of $106.11. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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, research analysts forecast that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analysts Set New Price Targets

Several analysts have recently issued reports on COP shares. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective on the stock. Piper Sandler reduced their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Truist Financial upped their price objective on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $133.72.

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.