SouthState Corp Has $420,000 Stock Position in ConocoPhillips (NYSE:COP)

SouthState Corp cut its stake in shares of ConocoPhillips (NYSE:COP) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,234 shares of the energy producer’s stock after selling 944 shares during the period. SouthState Corp’s holdings in ConocoPhillips were worth $420,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its stake in ConocoPhillips by 13.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,166 shares of the energy producer’s stock valued at $314,000 after purchasing an additional 368 shares during the period. Gray Wealth Management Inc. boosted its position in shares of ConocoPhillips by 5.0% in the fourth quarter. Gray Wealth Management Inc. now owns 2,171 shares of the energy producer’s stock valued at $215,000 after acquiring an additional 104 shares during the period. SlateStone Wealth LLC boosted its position in shares of ConocoPhillips by 52.2% in the fourth quarter. SlateStone Wealth LLC now owns 21,064 shares of the energy producer’s stock valued at $2,089,000 after acquiring an additional 7,228 shares during the period. Nicholas Company Inc. grew its stake in shares of ConocoPhillips by 61.4% in the fourth quarter. Nicholas Company Inc. now owns 66,357 shares of the energy producer’s stock valued at $6,581,000 after acquiring an additional 25,232 shares in the last quarter. Finally, First National Advisers LLC increased its position in ConocoPhillips by 10.3% during the fourth quarter. First National Advisers LLC now owns 22,017 shares of the energy producer’s stock worth $2,183,000 after acquiring an additional 2,062 shares during the period. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COP. Raymond James lowered shares of ConocoPhillips from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $157.00 to $124.00 in a research report on Monday, February 10th. The Goldman Sachs Group set a $132.00 price objective on ConocoPhillips in a research note on Thursday, January 30th. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Barclays reduced their price objective on shares of ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.05.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $99.42 on Tuesday. The stock has a 50-day moving average price of $99.22 and a two-hundred day moving average price of $103.65. ConocoPhillips has a 12 month low of $86.81 and a 12 month high of $135.18. The company has a market capitalization of $126.50 billion, a PE ratio of 12.76, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate 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 year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.14%. ConocoPhillips’s dividend payout ratio is 40.05%.

Insider Buying and Selling

In related news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is owned by corporate 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.