Fulton Bank N.A. Has $3.59 Million Position in ConocoPhillips (NYSE:COP)

Fulton Bank N.A. trimmed its stake in ConocoPhillips (NYSE:COP) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,185 shares of the energy producer’s stock after selling 1,452 shares during the period. Fulton Bank N.A.’s holdings in ConocoPhillips were worth $3,588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares in the last quarter. Alpha DNA Investment Management LLC raised its position in ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock valued at $1,879,000 after buying an additional 7,490 shares during the last quarter. Prospera Financial Services Inc lifted its stake in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in ConocoPhillips by 1.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after buying an additional 46,621 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in shares of ConocoPhillips by 5,422.3% in the 3rd 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. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.5 %

Shares of NYSE:COP traded down $0.49 on Wednesday, reaching $101.18. 1,870,901 shares of the company traded hands, compared to its average volume of 4,727,060. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The business’s 50-day simple moving average is $104.70 and its 200 day simple moving average is $107.97. The stock has a market capitalization of $116.45 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate 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 earned $2.16 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities analysts anticipate that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 3.08%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. UBS Group lowered their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, BMO Capital Markets boosted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Buy” and a consensus target price of $136.71.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of ConocoPhillips stock in a transaction on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, with a total value of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. This represents 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 corporate insiders.

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.