BancFirst Trust & Investment Management Buys New Stake in ConocoPhillips (NYSE:COP)

BancFirst Trust & Investment Management bought a new stake in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 1,678 shares of the energy producer’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in ConocoPhillips by 0.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock worth $3,211,901,000 after acquiring an additional 108,956 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ConocoPhillips by 24.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock worth $2,752,325,000 after buying an additional 4,726,952 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after buying an additional 386,276 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ConocoPhillips by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after buying an additional 270,859 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of ConocoPhillips by 8.9% during the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on COP. Truist Financial lifted their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Mizuho lowered their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a report on Wednesday, June 5th. Scotiabank boosted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Susquehanna boosted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Finally, StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP traded down $0.10 during trading on Tuesday, reaching $109.44. 1,884,127 shares of the stock were exchanged, compared to its average volume of 5,471,518. The business’s 50-day moving average price is $121.52 and its 200 day moving average price is $117.60. ConocoPhillips has a twelve month low of $99.35 and a twelve month high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $127.99 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. As a group, equities analysts forecast that ConocoPhillips will post 8.93 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.85%. ConocoPhillips’s payout ratio is currently 26.27%.

Insider Activity at ConocoPhillips

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 664,350 shares of company stock valued at $83,537,680 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.