CNB Bank Increases Holdings in ConocoPhillips (NYSE:COP)

CNB Bank increased its stake in ConocoPhillips (NYSE:COP) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,650 shares of the energy producer’s stock after acquiring an additional 711 shares during the period. CNB Bank’s holdings in ConocoPhillips were worth $805,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at $31,000. Ruedi Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Valued Wealth Advisors LLC boosted its stake in shares of ConocoPhillips by 45.8% during the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the period. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter worth about $35,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price on the stock. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Finally, Truist Financial decreased their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.94.

ConocoPhillips Trading Down 0.5 %

COP opened at $105.67 on Friday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a fifty day moving average price of $109.01 and a 200-day moving average price of $114.78. The firm has a market cap of $122.71 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 0.87 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the prior year, the firm posted $1.84 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 7.99 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is 25.86%.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.