Mechanics Bank Trust Department Has $1.51 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Mechanics Bank Trust Department reduced its position in shares of ConocoPhillips (NYSE:COP) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,180 shares of the energy producer’s stock after selling 290 shares during the period. Mechanics Bank Trust Department’s holdings in ConocoPhillips were worth $1,505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Diversify Advisory Services LLC lifted its stake in ConocoPhillips by 0.9% in the 4th quarter. Diversify Advisory Services LLC now owns 23,796 shares of the energy producer’s stock valued at $2,425,000 after purchasing an additional 209 shares during the last quarter. Diversify Wealth Management LLC raised its position in ConocoPhillips by 42.9% in the fourth quarter. Diversify Wealth Management LLC now owns 4,437 shares of the energy producer’s stock valued at $452,000 after purchasing an additional 1,331 shares during the last quarter. Gilman Hill Asset Management LLC acquired a new stake in shares of ConocoPhillips during the fourth quarter valued at about $217,000. City Holding Co. grew its holdings in shares of ConocoPhillips by 3.6% during the fourth quarter. City Holding Co. now owns 26,253 shares of the energy producer’s stock worth $2,603,000 after purchasing an additional 917 shares during the last quarter. Finally, Successful Portfolios LLC increased its stake in shares of ConocoPhillips by 32.4% in the fourth quarter. Successful Portfolios LLC now owns 6,171 shares of the energy producer’s stock valued at $612,000 after buying an additional 1,511 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. The trade was 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on COP shares. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upgraded shares of 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. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Finally, BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $136.00.

ConocoPhillips Stock Performance

NYSE COP opened at $105.76 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $103.79 and a 200 day simple moving average of $107.43. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The company has a market cap of $121.72 billion, a P/E ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for 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 firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 EPS. Sell-side analysts predict that ConocoPhillips will post 7.7 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.95%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.