First American Bank Lowers Holdings in ConocoPhillips (NYSE:COP)

First American Bank reduced its position in ConocoPhillips (NYSE:COP) by 54.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 17,840 shares of the energy producer’s stock after selling 21,259 shares during the quarter. First American Bank’s holdings in ConocoPhillips were worth $1,769,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Pettyjohn Wood & White Inc. boosted its stake in shares of ConocoPhillips by 14.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 2,663 shares of the energy producer’s stock valued at $264,000 after buying an additional 331 shares in the last quarter. Fielder Capital Group LLC grew its stake in shares of ConocoPhillips by 31.5% during the 4th quarter. Fielder Capital Group LLC now owns 6,437 shares of the energy producer’s stock worth $638,000 after purchasing an additional 1,542 shares during the period. Argyle Capital Management LLC increased its holdings in shares of ConocoPhillips by 1.8% in the 4th quarter. Argyle Capital Management LLC now owns 37,587 shares of the energy producer’s stock valued at $3,728,000 after purchasing an additional 681 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in ConocoPhillips by 18.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,350 shares of the energy producer’s stock worth $729,000 after buying an additional 1,143 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych acquired a new position in ConocoPhillips during the fourth quarter worth about $159,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other news, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director R A. Walker acquired 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

COP has been the subject of a number of research reports. Truist Financial lifted their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. TD Cowen started coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, The Goldman Sachs Group set a $132.00 price objective on shares of ConocoPhillips in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

ConocoPhillips Stock Performance

NYSE COP opened at $97.19 on Friday. The business’s 50-day moving average price is $100.11 and its 200 day moving average price is $105.16. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market capitalization of $123.67 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, research analysts predict that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.21%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

ConocoPhillips 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.