Country Trust Bank Has $26.15 Million Stock Holdings in ConocoPhillips (NYSE:COP)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp boosted its stake in shares of ConocoPhillips by 19.0% during the 3rd quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares during the period. Wellington Management Group LLP lifted its holdings in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC boosted its position in ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the period. Franklin Resources Inc. increased its holdings in shares of ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after purchasing an additional 1,506,599 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after purchasing an additional 4,656,040 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on COP shares. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $120.00 to $123.00 in a report on Thursday, December 5th. Barclays boosted their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial increased their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $135.89.

Insiders Place Their Bets

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arjun N. Murti purchased 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, 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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 0.1 %

Shares of NYSE:COP opened at $101.41 on Friday. The firm 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. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The business has a fifty day simple moving average of $102.08 and a 200 day simple moving average of $106.82. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

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

About ConocoPhillips

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.