Trust Point Inc. Sells 213 Shares of ConocoPhillips (NYSE:COP)

Trust Point Inc. cut its stake in shares of ConocoPhillips (NYSE:COP) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,036 shares of the energy producer’s stock after selling 213 shares during the period. Trust Point Inc.’s holdings in ConocoPhillips were worth $1,162,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 35.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares in the last quarter. Capital International Investors grew its position in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. Legal & General Group Plc increased its stake in shares of ConocoPhillips by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock worth $1,132,430,000 after purchasing an additional 438,241 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of ConocoPhillips by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after purchasing an additional 109,885 shares during the period. Finally, Boston Partners lifted its stake in ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after purchasing an additional 415,878 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on COP shares. Scotiabank cut their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Finally, Mizuho lowered their price objective on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Price Performance

COP traded down $1.15 during trading on Friday, hitting $105.00. 1,136,973 shares of the stock traded hands, compared to its average volume of 5,912,438. The business has a 50 day moving average price of $109.07 and a 200 day moving average price of $115.06. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a market cap of $122.80 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.88 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share 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 prior year, the company earned $1.84 EPS. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 8.02 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 given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is 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.