ConocoPhillips (NYSE:COP) is OLD Point Trust & Financial Services N A’s 3rd Largest Position

OLD Point Trust & Financial Services N A increased its holdings in shares of ConocoPhillips (NYSE:COP) by 34.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 103,109 shares of the energy producer’s stock after purchasing an additional 26,688 shares during the quarter. ConocoPhillips comprises about 3.6% of OLD Point Trust & Financial Services N A’s investment portfolio, making the stock its 3rd biggest holding. OLD Point Trust & Financial Services N A’s holdings in ConocoPhillips were worth $10,225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp increased its holdings 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 buying an additional 10,663,093 shares during the last quarter. Wellington Management Group LLP increased its stake in ConocoPhillips by 20.2% during the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ConocoPhillips by 3.9% in the 3rd 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. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after purchasing an additional 1,324,771 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of ConocoPhillips by 12.5% during the 3rd quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after purchasing an additional 1,506,599 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

COP opened at $101.33 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a 1-year low of $86.81 and a 1-year high of $135.18. The company has a 50-day moving average of $99.19 and a 200-day moving average of $103.54. The company has a market capitalization of $128.93 billion, a P/E ratio of 13.01, a PEG ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. Equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is presently 40.05%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price target on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. TD Cowen started coverage on shares of ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Barclays lowered their price target on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $133.05.

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.