Intrust Bank NA Has $2.66 Million Stock Holdings in ConocoPhillips $COP

Intrust Bank NA cut its position in shares of ConocoPhillips (NYSE:COP) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,419 shares of the energy producer’s stock after selling 27,453 shares during the quarter. Intrust Bank NA’s holdings in ConocoPhillips were worth $2,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Cloud Capital Management LLC bought a new position in ConocoPhillips during the third quarter worth about $26,000. KERR FINANCIAL PLANNING Corp bought a new position in ConocoPhillips during the third quarter worth about $28,000. Board of the Pension Protection Fund bought a new position in ConocoPhillips during the fourth quarter worth about $28,000. Strive Asset Management LLC bought a new position in ConocoPhillips during the third quarter worth about $28,000. Finally, BNP Paribas bought a new position in ConocoPhillips during the second quarter worth about $33,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $125.16 on Wednesday. ConocoPhillips has a 1 year low of $84.28 and a 1 year high of $135.87. The firm has a 50 day moving average of $123.37 and a 200-day moving average of $106.90. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $152.49 billion, a P/E ratio of 21.25, a price-to-earnings-growth ratio of 1.44 and a beta of 0.14.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. ConocoPhillips’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 9.63 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 11th will be paid a $0.84 dividend. The ex-dividend date is Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.7%. ConocoPhillips’s payout ratio is 57.05%.

ConocoPhillips News Roundup

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips’ long-term gas supply agreement for the Alaska LNG project adds durable volume visibility and reinforces the company’s role in a large-scale energy infrastructure project. Glenfarne, ConocoPhillips Sign North Slope Gas Sales Precedent Agreement for Alaska LNG
• Positive Sentiment: Reuters reported that the Alaska LNG project now has enough supply commitments to support a final investment decision for Phase One, which reduces project uncertainty and could improve sentiment toward COP. Alaska LNG secures supply deal with ConocoPhillips for pipeline project
• Positive Sentiment: Jefferies raised its price target on ConocoPhillips to $161 and reiterated a Buy rating, signaling continued Wall Street confidence in the stock’s upside. Jefferies adjusts price target on ConocoPhillips
• Positive Sentiment: Articles highlighting rising earnings estimates and momentum-stock characteristics suggest analysts see improving near-term fundamentals, which can support the shares. Earnings Estimates Rising for ConocoPhillips (COP): Will It Gain?

Insider Transactions at ConocoPhillips

In related news, EVP Nicholas G. Olds sold 14,522 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $119.36, for a total value of $1,733,345.92. Following the completion of the transaction, the executive vice president owned 12,389 shares in the company, valued at $1,478,751.04. The trade was a 53.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kelly Brunetti Rose sold 8,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $118.04, for a total transaction of $1,003,340.00. Following the completion of the transaction, the senior vice president owned 32,984 shares of the company’s stock, valued at $3,893,431.36. This trade represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 734,891 shares of company stock worth $93,345,692 over the last ninety days. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on COP. BMO Capital Markets cut their price target on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Piper Sandler raised their price target on shares of ConocoPhillips from $154.00 to $157.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Susquehanna raised their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Argus raised their price target on shares of ConocoPhillips from $128.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Wolfe Research lifted their target price on shares of ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.12.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.