Bank OZK Lowers Holdings in ConocoPhillips (NYSE:COP)

Bank OZK lessened its stake in ConocoPhillips (NYSE:COP) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,111 shares of the energy producer’s stock after selling 373 shares during the quarter. Bank OZK’s holdings in ConocoPhillips were worth $709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of COP. Patriot Financial Group Insurance Agency LLC raised its position in ConocoPhillips by 4.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 9,016 shares of the energy producer’s stock worth $1,080,000 after buying an additional 413 shares during the last quarter. Connecticut Wealth Management LLC raised its position in ConocoPhillips by 91.8% in the 3rd quarter. Connecticut Wealth Management LLC now owns 5,174 shares of the energy producer’s stock worth $620,000 after buying an additional 2,476 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its position in ConocoPhillips by 4.4% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 7,033 shares of the energy producer’s stock worth $843,000 after buying an additional 295 shares during the last quarter. First Personal Financial Services raised its position in ConocoPhillips by 421.7% in the 3rd quarter. First Personal Financial Services now owns 1,826 shares of the energy producer’s stock worth $219,000 after buying an additional 1,476 shares during the last quarter. Finally, Ropes Wealth Advisors LLC raised its position in ConocoPhillips by 48.7% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 3,776 shares of the energy producer’s stock worth $452,000 after buying an additional 1,237 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on COP shares. Morgan Stanley boosted their target price on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Barclays started coverage on ConocoPhillips in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price for the company. Wells Fargo & Company upped their price target on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Raymond James reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insiders Place Their Bets

In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the sale, the executive vice president now owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 in the last three months. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded up $0.13 during mid-day trading on Friday, reaching $130.24. 4,823,139 shares of the company traded hands, compared to its average volume of 3,808,210. The company’s 50 day moving average price is $122.49 and its 200-day moving average price is $117.64. The firm has a market cap of $153.22 billion, a PE ratio of 14.38, a PEG ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the prior year, the company posted $2.71 EPS. On average, equities analysts expect that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.40%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 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.