Cambridge Trust Co. Sells 334 Shares of ConocoPhillips (NYSE:COP)

Cambridge Trust Co. decreased its holdings in ConocoPhillips (NYSE:COP) by 9.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,063 shares of the energy producer’s stock after selling 334 shares during the period. Cambridge Trust Co.’s holdings in ConocoPhillips were worth $390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of COP. Pallas Capital Advisors LLC increased its stake in shares of ConocoPhillips by 8.1% during the fourth quarter. Pallas Capital Advisors LLC now owns 3,163 shares of the energy producer’s stock worth $367,000 after purchasing an additional 237 shares during the period. Coastline Trust Co increased its stake in shares of ConocoPhillips by 13.6% during the fourth quarter. Coastline Trust Co now owns 6,775 shares of the energy producer’s stock worth $786,000 after purchasing an additional 813 shares during the period. Colonial River Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter worth approximately $237,000. DAVENPORT & Co LLC increased its stake in shares of ConocoPhillips by 2.3% during the fourth quarter. DAVENPORT & Co LLC now owns 49,154 shares of the energy producer’s stock worth $5,705,000 after purchasing an additional 1,115 shares during the period. Finally, Independence Bank of Kentucky grew its position in ConocoPhillips by 55.6% during the fourth quarter. Independence Bank of Kentucky now owns 4,030 shares of the energy producer’s stock worth $468,000 after buying an additional 1,440 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COP. Bank of America reissued a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Argus raised ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Wells Fargo & Company reduced their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research report on Friday. Truist Financial reduced their price target on ConocoPhillips from $147.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Scotiabank reduced their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $143.06.

ConocoPhillips Stock Performance

COP stock traded down $2.62 during midday trading on Friday, reaching $105.77. 7,445,068 shares of the company’s stock traded hands, compared to its average volume of 5,694,223. The firm has a market capitalization of $123.70 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.14 and a beta of 1.24. ConocoPhillips has a 52 week low of $103.98 and a 52 week high of $135.18. The company has a 50-day moving average price of $112.75 and a two-hundred day moving average price of $117.04. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.21 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.08). The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.73 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a $0.58 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.19%. ConocoPhillips’s payout ratio is currently 26.27%.

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.