Argent Trust Co Reduces Stock Position in ConocoPhillips (NYSE:COP)

Argent Trust Co decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 1.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 70,041 shares of the energy producer’s stock after selling 1,378 shares during the quarter. Argent Trust Co’s holdings in ConocoPhillips were worth $6,946,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Vanguard Group Inc. boosted its holdings in ConocoPhillips by 11.7% in the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock valued at $12,081,491,000 after purchasing an additional 12,751,120 shares in the last quarter. Invesco Ltd. raised its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer’s stock valued at $438,690,000 after acquiring an additional 3,541,504 shares during the period. Geode Capital Management LLC raised its stake in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after purchasing an additional 3,397,360 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in ConocoPhillips in the 4th quarter valued at $232,859,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP traded down $6.84 during mid-day trading on Thursday, hitting $84.67. The stock had a trading volume of 881,829 shares, compared to its average volume of 6,972,092. The company’s fifty day simple moving average is $97.11 and its two-hundred day simple moving average is $102.35. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market cap of $107.04 billion, a PE ratio of 10.87, a PEG ratio of 0.79 and a beta of 0.83. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $135.18.

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, beating 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, equities analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.68%. ConocoPhillips’s payout ratio is 40.05%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on COP shares. Barclays reduced their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $132.00 to $134.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company cut their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $131.84.

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.