Montecito Bank & Trust Boosts Stock Position in ConocoPhillips (NYSE:COP)

Montecito Bank & Trust raised its stake in ConocoPhillips (NYSE:COP) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,804 shares of the energy producer’s stock after purchasing an additional 684 shares during the quarter. Montecito Bank & Trust’s holdings in ConocoPhillips were worth $1,369,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth about $26,000. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock worth $25,000 after purchasing an additional 228 shares during the period. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter valued at approximately $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Activity

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

ConocoPhillips Stock Performance

Shares of COP opened at $104.07 on Friday. The company has a market capitalization of $119.77 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The company’s 50 day simple moving average is $103.36 and its 200 day simple moving average is $107.22.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping 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 return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. On average, sell-side analysts predict that ConocoPhillips will post 7.65 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.00%. ConocoPhillips’s payout ratio is 37.10%.

Analyst Ratings Changes

COP has been the topic of a number of recent analyst reports. 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. Morgan Stanley started coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. 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. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Finally, Truist Financial lifted 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. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $135.89.

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.