First National Bank & Trust Co. of Newtown Trims Stake in ConocoPhillips (NYSE:COP)

First National Bank & Trust Co. of Newtown cut its holdings in ConocoPhillips (NYSE:COP) by 2.9% in the 4th quarter, HoldingsChannel reports. The fund owned 13,735 shares of the energy producer’s stock after selling 415 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in ConocoPhillips were worth $1,594,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new stake in ConocoPhillips in the 1st quarter valued at $31,000. Cetera Investment Advisers lifted its position in shares of ConocoPhillips by 4.0% during the first quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after purchasing an additional 968 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in ConocoPhillips by 1.9% in the first quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after acquiring an additional 9,313 shares during the last quarter. Zions Bancorporation N.A. lifted its holdings in ConocoPhillips by 59.1% in the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock worth $181,000 after acquiring an additional 672 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in ConocoPhillips by 21.3% in the first quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock worth $1,406,000 after acquiring an additional 2,465 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho restated a “neutral” rating and issued a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Truist Financial reduced their target price on shares of ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a report on Friday, April 5th. Raymond James decreased their price objective on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler raised their price objective on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.00.

ConocoPhillips Stock Up 1.3 %

Shares of ConocoPhillips stock traded up $1.64 during midday trading on Friday, reaching $129.45. 1,452,426 shares of the company’s stock traded hands, compared to its average volume of 5,400,160. The company has a market cap of $152.29 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 2.75 and a beta of 1.24. The company’s 50 day simple moving average is $120.20 and its 200 day simple moving average is $117.09. 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.

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 analysts’ consensus estimates of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same quarter last year, the firm earned $2.71 EPS. Equities analysts expect that ConocoPhillips will post 9.35 earnings per share for the current fiscal 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 issued a dividend of $0.78 per share. This is an increase 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 dividend yield of 2.41%. ConocoPhillips’s payout ratio is presently 25.61%.

Insider Transactions at ConocoPhillips

In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other ConocoPhillips news, EVP Dominic E. Macklon sold 23,372 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $112.17, for a total value of $2,621,637.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. 0.34% of the stock is currently owned by company insiders.

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.