ConocoPhillips (NYSE:COP) is OLD Point Trust & Financial Services N A’s 3rd Largest Position

OLD Point Trust & Financial Services N A lifted its stake in ConocoPhillips (NYSE:COP) by 34.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,109 shares of the energy producer’s stock after buying an additional 26,688 shares during the period. ConocoPhillips makes up 3.6% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 3rd largest holding. OLD Point Trust & Financial Services N A’s holdings in ConocoPhillips were worth $10,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in shares of ConocoPhillips by 42.7% in the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after acquiring an additional 31,011 shares during the period. Leavell Investment Management Inc. increased its stake in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after purchasing an additional 7,174 shares during the period. Brookstone Capital Management raised its holdings in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after buying an additional 46,621 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at ConocoPhillips

In related news, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on COP shares. TD Cowen started coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price objective for the company. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Barclays dropped their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Truist Financial raised their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Evercore ISI reiterated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $101.33 on Thursday. 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 firm’s 50-day simple moving average is $99.19 and its 200 day simple moving average is $103.54. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The firm has a market capitalization of $128.93 billion, a PE ratio of 13.01, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS 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 research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.08%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

About ConocoPhillips

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.