ConocoPhillips (NYSE:COP) Shares Sold by Bank OZK

Bank OZK trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 5.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,111 shares of the energy producer’s stock after selling 373 shares during the period. Bank OZK’s holdings in ConocoPhillips were worth $709,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $27,000. West Branch Capital LLC increased its position in shares of ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Oliver Lagore Vanvalin Investment Group increased its position in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after purchasing an additional 111 shares in the last quarter. Spartan Planning & Wealth Management purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $40,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of ConocoPhillips during the third quarter worth approximately $46,000. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.1 %

Shares of NYSE COP traded up $0.13 during mid-day trading on Friday, reaching $130.24. 4,823,139 shares of the company’s stock were exchanged, compared to its average volume of 3,808,210. The firm has a market capitalization of $153.22 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a 52-week low of $95.70 and a 52-week 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 released its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period in the prior year, the business posted $2.71 EPS. Analysts expect that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on COP shares. UBS Group boosted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Wells Fargo & Company boosted their price target on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Morgan Stanley upped their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Piper Sandler upped their target price on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Finally, Scotiabank upped their target price on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Buying and Selling

In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock valued at $87,615,169. Corporate insiders own 0.34% of the company’s stock.

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.