Webster Bank N. A. Decreases Stock Position in ConocoPhillips (NYSE:COP)

Webster Bank N. A. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 20.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,410 shares of the energy producer’s stock after selling 357 shares during the quarter. Webster Bank N. A.’s holdings in ConocoPhillips were worth $179,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its position in shares of ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after buying an additional 85 shares during the last quarter. Financial Management Professionals Inc. grew its stake in ConocoPhillips by 3.0% during the 1st quarter. Financial Management Professionals Inc. now owns 5,578 shares of the energy producer’s stock valued at $710,000 after acquiring an additional 161 shares in the last quarter. Norway Savings Bank raised its holdings in ConocoPhillips by 3.8% in the 1st quarter. Norway Savings Bank now owns 18,518 shares of the energy producer’s stock valued at $2,357,000 after acquiring an additional 677 shares during the last quarter. Capital Insight Partners LLC lifted its stake in ConocoPhillips by 21.5% in the 1st quarter. Capital Insight Partners LLC now owns 5,457 shares of the energy producer’s stock worth $695,000 after purchasing an additional 966 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its stake in ConocoPhillips by 22.8% in the 1st quarter. AMF Tjanstepension AB now owns 2,440,806 shares of the energy producer’s stock worth $310,797,000 after purchasing an additional 453,731 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on COP. Susquehanna increased 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 raised their target price on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Piper Sandler boosted their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Truist Financial upped their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a report on Monday, June 3rd. Finally, Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Stock Performance

NYSE:COP opened at $114.38 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market capitalization of $133.77 billion, a P/E ratio of 12.95, a PEG ratio of 2.04 and a beta of 1.22. The company has a 50 day moving average price of $118.30 and a 200 day moving average price of $117.58. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The company had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Equities research analysts forecast that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.