Webster Bank N. A. Buys 752 Shares of ConocoPhillips (NYSE:COP)

Webster Bank N. A. boosted its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 74.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,767 shares of the energy producer’s stock after buying an additional 752 shares during the period. Webster Bank N. A.’s holdings in ConocoPhillips were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of COP. Morgan Stanley grew its position in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares in the last quarter. Northern Trust Corp raised its holdings in shares of ConocoPhillips by 3.2% during the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock worth $1,495,927,000 after acquiring an additional 386,276 shares in the last quarter. Bank of New York Mellon Corp boosted its position 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 valued at $1,440,962,000 after acquiring an additional 1,152,907 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of ConocoPhillips by 98,832.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after purchasing an additional 8,575,696 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in ConocoPhillips by 8.9% in the third quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock worth $968,410,000 after purchasing an additional 659,632 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $130.69 on Wednesday. The stock has a market cap of $153.74 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.92 and a beta of 1.24. The firm has a 50-day moving average of $115.53 and a two-hundred day moving average of $116.20. ConocoPhillips has a 1 year low of $95.70 and a 1 year high of $130.84. 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:COPGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations 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 earned $2.71 earnings per share. On average, research analysts forecast that ConocoPhillips will post 8.81 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders 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 2.39%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on COP shares. Piper Sandler lowered their price objective on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. Morgan Stanley lifted their price target on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Raymond James reduced their price objective on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. UBS Group raised their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Susquehanna cut their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.35.

View Our Latest Analysis on ConocoPhillips

Insiders Place Their Bets

In other news, SVP Heather G. Hrap sold 4,548 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the completion of the sale, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Dominic E. Macklon sold 23,372 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $112.17, for a total transaction of $2,621,637.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction dated Tuesday, February 20th. The shares were 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 owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock worth $87,615,169 in the last three months. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COPFree Report).

Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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