Trust Point Inc. Invests $1.37 Million in ConocoPhillips (NYSE:COP)

Trust Point Inc. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,802 shares of the energy producer’s stock, valued at approximately $1,370,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Tower Group LLC purchased a new stake in ConocoPhillips during the 2nd quarter worth about $27,000. Orion Capital Management LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC increased its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. RVW Wealth LLC purchased a new stake in ConocoPhillips during the 3rd quarter worth about $28,000. Finally, Fairfield Bush & CO. purchased a new stake in ConocoPhillips during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on COP shares. Johnson Rice cut ConocoPhillips from an “accumulate” rating to a “hold” rating in a report on Thursday, December 14th. Piper Sandler decreased their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Mizuho reissued a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Scotiabank boosted their price target on ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Finally, UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.35.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded up $0.44 during trading on Wednesday, hitting $131.11. The stock had a trading volume of 1,039,654 shares, compared to its average volume of 5,645,274. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. The firm has a market cap of $154.24 billion, a P/E ratio of 14.45, a PEG ratio of 2.92 and a beta of 1.24. The business has a fifty day moving average of $115.53 and a two-hundred day moving average of $116.20. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $131.54.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the business posted $2.71 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 8.81 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares of the company’s stock, valued at approximately $293,399.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the sale, the senior vice president now owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last three months. Insiders own 0.37% 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.