Stock Yards Bank & Trust Co. Sells 1,994 Shares of ConocoPhillips (NYSE:COP)

Stock Yards Bank & Trust Co. decreased its position in shares of ConocoPhillips (NYSE:COP) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,374 shares of the energy producer’s stock after selling 1,994 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $4,802,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Alphinity Investment Management Pty Ltd bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $310,102,000. Capital Wealth Planning LLC increased its holdings in shares of ConocoPhillips by 45,426.8% in the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock valued at $171,204,000 after acquiring an additional 1,425,946 shares during the period. Bank of New York Mellon Corp raised its position in shares of ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after acquiring an additional 1,152,907 shares in the last quarter. International Assets Investment Management LLC boosted its position in ConocoPhillips by 13,905.3% during the fourth quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after purchasing an additional 1,106,305 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in ConocoPhillips in the third quarter valued at about $99,676,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of NYSE:COP traded up $0.69 during trading on Monday, reaching $130.07. The stock had a trading volume of 2,058,011 shares, compared to its average volume of 5,388,409. The business has a fifty day moving average price of $120.56 and a 200-day moving average price of $117.20. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The stock has a market cap of $153.02 billion, a PE ratio of 14.28, a PEG ratio of 2.73 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.32. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities analysts forecast that ConocoPhillips will post 9.47 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 annualized dividend and a yield of 2.40%. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Analyst Ratings Changes

A number of research firms recently commented on COP. Truist Financial decreased their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Mizuho reiterated a “neutral” rating and issued a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday. Wells Fargo & Company upped their target price on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders have sold 700,775 shares of company stock worth $87,615,169 over the last quarter. 0.34% of the stock is currently owned by company 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.