Country Trust Bank Buys 6,453 Shares of ConocoPhillips (NYSE:COP)

Country Trust Bank raised its stake in shares of ConocoPhillips (NYSE:COP) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 263,706 shares of the energy producer’s stock after purchasing an additional 6,453 shares during the quarter. Country Trust Bank’s holdings in ConocoPhillips were worth $26,152,000 as of its most recent filing with the SEC.

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

Insider Activity

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

Analyst Ratings Changes

Several equities analysts recently commented on COP shares. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Piper Sandler dropped their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Morgan Stanley assumed coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Buy” and an average target price of $135.89.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE COP opened at $101.41 on Friday. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The stock has a market cap of $116.72 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.78 and a beta of 1.19. The firm has a 50 day moving average price of $102.08 and a 200 day moving average price of $106.82.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the firm posted $2.16 earnings per share. ConocoPhillips’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that ConocoPhillips will post 7.64 EPS for the current year.

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.