Simmons Bank Cuts Stock Position in ConocoPhillips (NYSE:COP)

Simmons Bank decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,081 shares of the energy producer’s stock after selling 674 shares during the period. Simmons Bank’s holdings in ConocoPhillips were worth $3,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in COP. Northern Trust Corp increased its stake in shares of ConocoPhillips by 3.2% during the third quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after purchasing an additional 386,276 shares in the last quarter. Ameriprise Financial Inc. increased its stake in ConocoPhillips by 8.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after buying an additional 659,632 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of ConocoPhillips by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after acquiring an additional 204,714 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of ConocoPhillips by 1.1% in the third quarter. Lazard Asset Management LLC now owns 7,086,681 shares of the energy producer’s stock valued at $848,984,000 after acquiring an additional 74,278 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of ConocoPhillips by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,623,535 shares of the energy producer’s stock worth $768,782,000 after acquiring an additional 150,945 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.0 %

ConocoPhillips stock traded down $0.01 during midday trading on Tuesday, reaching $123.54. 5,901,955 shares of the stock traded hands, compared to its average volume of 5,368,249. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The firm has a market cap of $144.48 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. The company has a 50-day simple moving average of $124.31 and a two-hundred day simple moving average of $117.59. ConocoPhillips has a 12-month low of $97.42 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm earned $2.71 earnings per share. Research analysts expect that ConocoPhillips will post 9.1 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

Insider Activity at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips 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 have sold a total of 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on COP shares. Mizuho reissued a “neutral” rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Piper Sandler raised their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Morgan Stanley increased 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. Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 11th. Finally, UBS Group upped their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $142.76.

ConocoPhillips 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.