VeraBank N.A. Cuts Position in ConocoPhillips (NYSE:COP)

VeraBank N.A. reduced its holdings in shares of ConocoPhillips (NYSE:COP) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,857 shares of the energy producer’s stock after selling 414 shares during the quarter. VeraBank N.A.’s holdings in ConocoPhillips were worth $283,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Albion Financial Group UT increased its holdings in ConocoPhillips by 876.9% in the 4th quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $31,000. Finally, Global Wealth Strategies & Associates grew its position in ConocoPhillips by 80.5% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP stock opened at $96.39 on Friday. The company has a market cap of $110.93 billion, a P/E ratio of 12.37, a PEG ratio of 0.77 and a beta of 1.18. The business has a 50 day moving average of $100.44 and a two-hundred day moving average of $105.76. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, analysts anticipate that ConocoPhillips will post 8.3 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.24%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Morgan Stanley started coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Piper Sandler lowered their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays cut their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Susquehanna lifted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Finally, TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $133.56.

Insider Activity at ConocoPhillips

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