Riverview Trust Co Increases Stake in ConocoPhillips (NYSE:COP)

Riverview Trust Co grew its stake in shares of ConocoPhillips (NYSE:COP) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,903 shares of the energy producer’s stock after buying an additional 222 shares during the period. Riverview Trust Co’s holdings in ConocoPhillips were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Albion Financial Group UT boosted its stake in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after buying an additional 228 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $27,000. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at $31,000. Finally, Global Wealth Strategies & Associates increased its position in ConocoPhillips by 80.5% in the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 1.8 %

NYSE:COP opened at $99.12 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The company has a 50-day moving average of $100.19 and a 200 day moving average of $105.06. The firm has a market cap of $126.12 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) 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%. As a group, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, February 14th. ConocoPhillips’s payout ratio is 40.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on COP. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective for the company. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research report on Thursday, January 30th. Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price target for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.47.

Insider Buying and Selling

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

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.