First National Bank & Trust Co. of Newtown Sells 415 Shares of ConocoPhillips (NYSE:COP)

First National Bank & Trust Co. of Newtown trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,735 shares of the energy producer’s stock after selling 415 shares during the quarter. First National Bank & Trust Co. of Newtown’s holdings in ConocoPhillips were worth $1,594,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley increased its stake in ConocoPhillips by 26.6% in the 4th quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock worth $1,964,432,000 after acquiring an additional 3,497,750 shares during the last quarter. Northern Trust Corp increased its stake in ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares during the last quarter. Bank of New York Mellon Corp increased its stake in ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after acquiring an additional 1,152,907 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock worth $1,012,956,000 after acquiring an additional 8,575,696 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after acquiring an additional 659,632 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Stock Performance

COP traded up $1.64 during midday trading on Friday, hitting $129.45. 1,452,426 shares of the company were exchanged, compared to its average volume of 5,400,160. The company’s 50 day simple moving average is $120.20 and its 200 day simple moving average is $117.09. The firm has a market capitalization of $152.29 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the company posted $2.71 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 9.35 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is presently 25.61%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research analyst reports. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday. Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Barclays initiated coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Raymond James reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.00.

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.