AMG National Trust Bank Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

AMG National Trust Bank raised its holdings in shares of ConocoPhillips (NYSE:COP) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,493 shares of the energy producer’s stock after buying an additional 1,295 shares during the period. AMG National Trust Bank’s holdings in ConocoPhillips were worth $935,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in COP. M&G PLC boosted its position in ConocoPhillips by 7.0% during the third quarter. M&G PLC now owns 45,587 shares of the energy producer’s stock valued at $4,787,000 after buying an additional 3,001 shares during the period. Portside Wealth Group LLC boosted its holdings in shares of ConocoPhillips by 4.5% during the third quarter. Portside Wealth Group LLC now owns 8,699 shares of the energy producer’s stock worth $916,000 after purchasing an additional 375 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of ConocoPhillips by 6.7% during the third quarter. Confluence Investment Management LLC now owns 5,555 shares of the energy producer’s stock worth $585,000 after purchasing an additional 348 shares during the period. Summit Global Investments boosted its holdings in shares of ConocoPhillips by 150.4% during the third quarter. Summit Global Investments now owns 10,473 shares of the energy producer’s stock worth $1,103,000 after purchasing an additional 6,290 shares during the period. Finally, AIA Group Ltd boosted its holdings in shares of ConocoPhillips by 36.1% during the third quarter. AIA Group Ltd now owns 20,718 shares of the energy producer’s stock worth $2,181,000 after purchasing an additional 5,494 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $90.70 on Friday. ConocoPhillips has a fifty-two week low of $86.81 and a fifty-two week high of $135.18. The company has a 50 day simple moving average of $99.53 and a two-hundred day simple moving average of $104.34. The company has a market capitalization of $115.40 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Insider Activity at ConocoPhillips

In other news, Director Arjun N. Murti purchased 2,500 shares of ConocoPhillips stock in a transaction that occurred on Friday, December 20th. The stock was bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

COP has been the subject of a number of analyst reports. The Goldman Sachs Group set a $132.00 target price on shares of ConocoPhillips in a report on Thursday, January 30th. Barclays dropped their target price on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a report on Monday, December 16th. They set an “overweight” rating and a $128.00 target price for the company. Evercore ISI reiterated an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $133.47.

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.