Cambridge Trust Co. Sells 4,489 Shares of ConocoPhillips (NYSE:COP)

Cambridge Trust Co. cut its holdings in shares of ConocoPhillips (NYSE:COP) by 56.9% in the 4th quarter, HoldingsChannel reports. The fund owned 3,397 shares of the energy producer’s stock after selling 4,489 shares during the period. Cambridge Trust Co.’s holdings in ConocoPhillips were worth $394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Capital Management LLC bought a new position in shares of ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC boosted its holdings in 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 during the last quarter. RVW Wealth LLC purchased a new position in ConocoPhillips during the 3rd quarter worth $28,000. Fairfield Bush & CO. bought a new stake in shares of ConocoPhillips in the 1st quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group raised its holdings in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 over the last three months. 0.34% of the stock is currently owned by company insiders.

ConocoPhillips Trading Down 0.4 %

COP opened at $127.81 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18. The stock has a market cap of $150.36 billion, a PE ratio of 14.11, a PEG ratio of 2.75 and a beta of 1.24. The business has a 50 day moving average of $120.20 and a 200-day moving average of $117.09.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the company earned $2.71 EPS. Equities research analysts predict that ConocoPhillips will post 9.35 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. ConocoPhillips’s payout ratio is 25.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on COP shares. Susquehanna decreased their price objective on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Piper Sandler lifted their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays initiated coverage on shares of ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target for the company. Truist Financial decreased their price objective on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Scotiabank increased their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Five equities 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.00.

About ConocoPhillips

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.