ConocoPhillips (NYSE:COP) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,364,100 shares of the energy producer’s stock after selling 3,757 shares during the quarter. Truist Financial Corp owned approximately 0.11% of ConocoPhillips worth $158,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $27,000. West Branch Capital LLC increased its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group increased its stake in shares of ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the period. Spartan Planning & Wealth Management acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $40,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on COP shares. Raymond James decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and issued a $139.00 price objective (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Truist Financial decreased their price objective on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Scotiabank increased their price objective on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $141.00 to $149.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $143.24.

Insider Buying and Selling at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $123.32, for a total value of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares in the company, valued at approximately $5,444,947.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 in the last quarter. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Trading Up 0.1 %

Shares of NYSE:COP traded up $0.13 during mid-day trading on Friday, hitting $130.24. The stock had a trading volume of 4,823,139 shares, compared to its average volume of 3,808,210. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The company has a market cap of $153.22 billion, a PE ratio of 14.38, a P/E/G ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $135.18. The company’s 50 day moving average is $122.49 and its 200-day moving average is $117.64.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter last year, the business posted $2.71 EPS. On average, sell-side analysts predict that ConocoPhillips will post 9.57 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were paid a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

About ConocoPhillips

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.