ConocoPhillips (NYSE:COP) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division decreased its position in ConocoPhillips (NYSE:COP) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,229 shares of the energy producer’s stock after selling 190 shares during the quarter. Moody National Bank Trust Division’s holdings in ConocoPhillips were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in COP. Evergreen Capital Management LLC raised its stake in ConocoPhillips by 0.5% in the 3rd quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock valued at $2,270,000 after purchasing an additional 89 shares during the last quarter. Adirondack Trust Co. raised its stake in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the last quarter. Greenfield Savings Bank raised its stake in ConocoPhillips by 1.3% in the 4th quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after purchasing an additional 94 shares during the last quarter. Relative Value Partners Group LLC raised its stake in ConocoPhillips by 2.2% in the 4th quarter. Relative Value Partners Group LLC now owns 4,511 shares of the energy producer’s stock valued at $524,000 after purchasing an additional 95 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC raised its stake in ConocoPhillips by 3.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 3,329 shares of the energy producer’s stock valued at $386,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on COP shares. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Susquehanna lifted their price target on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Scotiabank lifted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Raymond James reiterated a “strong-buy” rating and set a $159.00 target price (up previously from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Stock Down 0.1 %

NYSE COP opened at $109.41 on Thursday. The stock has a market cap of $127.96 billion, a PE ratio of 12.39, a P/E/G ratio of 1.95 and a beta of 1.22. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18. The business has a 50 day moving average price of $120.59 and a two-hundred day moving average price of $117.50. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. As a group, sell-side analysts predict that ConocoPhillips will post 8.91 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

Insider Activity at ConocoPhillips

In related news, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the sale, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at approximately $5,444,947.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 664,350 shares of company stock valued at $83,537,680. Corporate insiders own 0.34% of the company’s stock.

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.