OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in shares of ConocoPhillips (NYSE:COP) by 72.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,888 shares of the energy producer’s stock after selling 4,989 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ConocoPhillips were worth $220,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Orion Capital Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $27,000. West Branch Capital LLC grew its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the period. Oliver Lagore Vanvalin Investment Group increased its holdings in ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares during the last quarter. Spartan Planning & Wealth Management bought a new position in ConocoPhillips in the third quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $44,000. 82.36% of the stock is currently owned by institutional investors.

Insider Activity at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares of the company’s stock, valued at $293,399.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of 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 ninety days, insiders have sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on COP shares. Barclays assumed coverage on ConocoPhillips in a report on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 target price on the stock. Scotiabank boosted their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Truist Financial lowered their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Susquehanna increased their price objective on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday. Five investment 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 MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.24.

ConocoPhillips Trading Down 0.0 %

Shares of NYSE COP opened at $129.33 on Tuesday. The stock has a market capitalization of $152.15 billion, a P/E ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. ConocoPhillips has a 1-year low of $95.70 and a 1-year high of $135.18. The business’s 50 day moving average is $120.93 and its two-hundred day moving average is $117.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.43 and a quick ratio of 1.29.

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, beating the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, research analysts expect that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.41%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

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.