Cetera Trust Company N.A Makes New $99,000 Investment in ConocoPhillips (NYSE:COP)

Cetera Trust Company N.A bought a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 852 shares of the energy producer’s stock, valued at approximately $99,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Alphinity Investment Management Pty Ltd acquired a new stake in ConocoPhillips during the 3rd quarter worth $310,102,000. Capital Wealth Planning LLC raised its holdings in shares of ConocoPhillips by 45,426.8% during the 3rd quarter. Capital Wealth Planning LLC now owns 1,429,085 shares of the energy producer’s stock worth $171,204,000 after acquiring an additional 1,425,946 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ConocoPhillips by 10.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock worth $1,440,962,000 after acquiring an additional 1,152,907 shares during the period. International Assets Investment Management LLC raised its holdings in shares of ConocoPhillips by 13,905.3% during the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock worth $129,332,000 after acquiring an additional 1,106,305 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth $99,676,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

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

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The business had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $14.47 billion. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, analysts anticipate that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on COP shares. Barclays started coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price target on the stock. Piper Sandler lifted their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. UBS Group lifted their price target on ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, Raymond James reduced their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the transaction, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at $853,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nicholas G. Olds sold 12,150 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.34% of the stock is currently 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.