Burke & Herbert Bank & Trust Co. Has $1.02 Million Holdings in ConocoPhillips (NYSE:COP)

Burke & Herbert Bank & Trust Co. boosted its position in shares of ConocoPhillips (NYSE:COP) by 52.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,874 shares of the energy producer’s stock after buying an additional 3,053 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in ConocoPhillips were worth $1,015,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of COP. Cooksen Wealth LLC acquired a new stake in ConocoPhillips in the fourth quarter valued at about $27,000. Sachetta LLC acquired a new position in ConocoPhillips in the 4th quarter worth about $27,000. Richardson Capital Management LLC bought a new position in ConocoPhillips in the first quarter valued at about $31,000. Cape Investment Advisory Inc. boosted its stake in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock opened at $108.34 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a fifty day simple moving average of $111.65 and a two-hundred day simple moving average of $117.08. ConocoPhillips has a 12 month low of $102.27 and a 12 month high of $135.18. The firm has a market capitalization of $126.71 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 2.10 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 EPS. Analysts forecast that ConocoPhillips will post 8.67 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial dropped their price objective on shares of ConocoPhillips from $147.00 to $145.00 and set a “buy” rating for the company in a report on Friday, August 2nd. UBS Group decreased their price target on ConocoPhillips from $159.00 to $151.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein reduced their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Susquehanna lifted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.53.

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.