ConocoPhillips (NYSE:COP) Shares Acquired by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas boosted its position in ConocoPhillips (NYSE:COP) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,466 shares of the energy producer’s stock after acquiring an additional 1,464 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in ConocoPhillips were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in ConocoPhillips by 20.7% during the 4th quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after purchasing an additional 1,644 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of ConocoPhillips by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after buying an additional 483 shares in the last quarter. Spire Wealth Management grew its position in ConocoPhillips by 0.6% in the fourth quarter. Spire Wealth Management now owns 17,993 shares of the energy producer’s stock valued at $1,941,000 after acquiring an additional 103 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of ConocoPhillips by 8.1% during the fourth quarter. Private Advisor Group LLC now owns 65,881 shares of the energy producer’s stock valued at $7,647,000 after purchasing an additional 4,910 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in shares of ConocoPhillips by 98.6% during the fourth quarter. Apollon Wealth Management LLC now owns 24,510 shares of the energy producer’s stock worth $2,845,000 after purchasing an additional 12,170 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Scotiabank lowered their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Truist Financial cut their target price on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Mizuho decreased their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Finally, Susquehanna cut their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday. Five 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, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.01 during mid-day trading on Wednesday, hitting $109.84. The stock had a trading volume of 1,581,697 shares, compared to its average volume of 5,635,575. 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 company has a 50 day simple moving average of $111.60 and a 200-day simple moving average of $117.10. The stock has a market capitalization of $128.46 billion, a price-to-earnings ratio of 12.50, a P/E/G ratio of 0.85 and a beta of 1.24. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 8.5 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is currently 26.27%.

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.