Legacy Private Trust Co. Decreases Position in ConocoPhillips (NYSE:COP)

Legacy Private Trust Co. decreased its position in shares of ConocoPhillips (NYSE:COP) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,211 shares of the energy producer’s stock after selling 1,529 shares during the quarter. Legacy Private Trust Co.’s holdings in ConocoPhillips were worth $5,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips in the 3rd quarter worth $26,000. Reston Wealth Management LLC purchased a new position in ConocoPhillips in the 3rd quarter worth about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Global Wealth Strategies & Associates boosted its holdings in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after acquiring an additional 153 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the second quarter worth approximately $35,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. Truist Financial lowered their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $120.00 to $123.00 in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $136.71.

ConocoPhillips Price Performance

COP traded down $0.19 during trading on Wednesday, reaching $101.48. 5,117,096 shares of the company traded hands, compared to its average volume of 5,393,320. The company has a market cap of $116.79 billion, a P/E ratio of 12.07, a PEG ratio of 0.83 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 12-month low of $94.23 and a 12-month high of $135.18. The firm has a fifty day simple moving average of $104.70 and a 200 day simple moving average of $107.97.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.07%. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Arjun N. Murti purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by company insiders.

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.