Members Trust Co Reduces Position in ConocoPhillips (NYSE:COP)

Members Trust Co reduced its stake in shares of ConocoPhillips (NYSE:COP) by 28.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,191 shares of the energy producer’s stock after selling 1,295 shares during the period. Members Trust Co’s holdings in ConocoPhillips were worth $336,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stephens Consulting LLC grew its holdings in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new stake in shares of ConocoPhillips in the first quarter valued at about $31,000. Ruedi Wealth Management Inc. increased its position in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after purchasing an additional 150 shares during the last quarter. Valued Wealth Advisors LLC increased its position in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after purchasing an additional 82 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the 2nd quarter valued at about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday. Sanford C. Bernstein cut their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.12.

ConocoPhillips Stock Down 3.1 %

Shares of COP traded down $3.41 during mid-day trading on Tuesday, reaching $106.06. 3,916,317 shares of the stock traded hands, compared to its average volume of 5,934,672. The firm has a market cap of $124.04 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $109.16 and a 200 day simple moving average of $115.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.84 EPS. Sell-side analysts expect that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.19%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.