Community Bank & Trust Waco Texas Boosts Stake in ConocoPhillips (NYSE:COP)

Community Bank & Trust Waco Texas lifted its position in shares of ConocoPhillips (NYSE:COP) by 94.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,737 shares of the energy producer’s stock after acquiring an additional 6,690 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in ConocoPhillips were worth $1,594,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter worth about $27,000. West Branch Capital LLC boosted its stake in shares of ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group lifted its stake in ConocoPhillips by 63.1% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new position in ConocoPhillips in the 3rd quarter valued at about $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in ConocoPhillips in the 3rd quarter valued at about $44,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on COP. Truist Financial decreased their price target on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company raised their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Barclays began coverage on shares of ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price target on the stock. Morgan Stanley raised their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler raised their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ConocoPhillips news, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now owns 44,153 shares in the company, valued at $5,444,947.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last 90 days. Insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Down 0.7 %

Shares of NYSE COP traded down $0.96 during midday trading on Wednesday, reaching $128.88. 1,394,252 shares of the stock were exchanged, compared to its average volume of 5,345,418. The company has a 50 day simple moving average of $121.33 and a 200 day simple moving average of $117.41. The stock has a market capitalization of $151.62 billion, a P/E ratio of 14.33, a PEG ratio of 2.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter last year, the firm earned $2.71 EPS. As a group, equities analysts expect that ConocoPhillips will post 9.47 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.61%.

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.