Atlantic Union Bankshares Corp Sells 4,789 Shares of ConocoPhillips $COP

Atlantic Union Bankshares Corp lessened its stake in ConocoPhillips (NYSE:COP) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,016 shares of the energy producer’s stock after selling 4,789 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in ConocoPhillips were worth $8,426,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Cloud Capital Management LLC bought a new stake in ConocoPhillips during the third quarter worth $26,000. Strive Asset Management LLC bought a new stake in ConocoPhillips during the third quarter worth $28,000. Board of the Pension Protection Fund bought a new stake in ConocoPhillips during the fourth quarter worth $28,000. KERR FINANCIAL PLANNING Corp bought a new stake in ConocoPhillips during the third quarter worth $28,000. Finally, BNP Paribas bought a new stake in ConocoPhillips during the second quarter worth $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $117.35 on Thursday. The firm has a market cap of $142.97 billion, a PE ratio of 19.92, a PEG ratio of 1.64 and a beta of 0.14. The stock’s fifty day moving average price is $122.93 and its two-hundred day moving average price is $105.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 earnings per share. On average, equities research analysts forecast that ConocoPhillips will post 9.62 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 annualized dividend and a dividend yield of 2.9%. ConocoPhillips’s payout ratio is presently 57.05%.

Insider Transactions at ConocoPhillips

In other ConocoPhillips news, EVP Nicholas G. Olds sold 6,994 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $127.06, for a total value of $888,657.64. Following the sale, the executive vice president directly owned 5,395 shares in the company, valued at $685,488.70. The trade was a 56.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Heather G. Hrap sold 2,654 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $119.68, for a total value of $317,630.72. Following the completion of the sale, the senior vice president owned 5,663 shares in the company, valued at approximately $677,747.84. The trade was a 31.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 734,891 shares of company stock valued at $93,345,692. 0.09% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on ConocoPhillips from $98.00 to $103.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Argus lifted their price target on ConocoPhillips from $111.00 to $128.00 and gave the stock a “strong-buy” rating in a report on Friday, February 13th. Truist Financial set a $128.00 target price on shares of ConocoPhillips in a research note on Friday, May 1st. Zacks Research upgraded shares of ConocoPhillips from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Royal Bank Of Canada boosted their target price on shares of ConocoPhillips from $118.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.84.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.