First Interstate Bank Sells 744 Shares of ConocoPhillips (NYSE:COP)

First Interstate Bank reduced its position in ConocoPhillips (NYSE:COP) by 22.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,506 shares of the energy producer’s stock after selling 744 shares during the quarter. First Interstate Bank’s holdings in ConocoPhillips were worth $291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tyche Wealth Partners LLC acquired a new position in ConocoPhillips during the 4th quarter worth about $872,000. Avior Wealth Management LLC raised its holdings in ConocoPhillips by 3.2% during the 4th quarter. Avior Wealth Management LLC now owns 25,860 shares of the energy producer’s stock worth $3,002,000 after purchasing an additional 809 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in ConocoPhillips by 4.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639,087 shares of the energy producer’s stock worth $74,179,000 after purchasing an additional 24,916 shares during the last quarter. Imprint Wealth LLC raised its holdings in ConocoPhillips by 1.6% during the 4th quarter. Imprint Wealth LLC now owns 6,334 shares of the energy producer’s stock worth $734,000 after purchasing an additional 101 shares during the last quarter. Finally, Peirce Capital Management LLC bought a new stake in ConocoPhillips during the 4th quarter worth about $316,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP traded down $0.72 during trading hours on Wednesday, hitting $129.53. The company’s stock had a trading volume of 3,878,617 shares, compared to its average volume of 4,204,073. The stock has a fifty day simple moving average of $119.60 and a 200-day simple moving average of $116.93. ConocoPhillips has a twelve month low of $95.70 and a twelve month high of $135.18. The company has a market capitalization of $152.38 billion, a P/E ratio of 14.30, a PEG ratio of 2.83 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.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating 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 firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period last year, the firm posted $2.71 earnings per share. On average, analysts anticipate that ConocoPhillips will post 9.21 EPS 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 given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the firm’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 in the company, valued at $853,669.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO William L. Jr. Bullock sold 45,200 shares of ConocoPhillips stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the transaction, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 over the last ninety days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COP. Truist Financial lowered their price target on ConocoPhillips from $173.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Scotiabank upped their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Susquehanna decreased their price objective on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research report on Friday, January 26th. Barclays initiated coverage on ConocoPhillips in a research report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 price objective on the stock. Finally, Wells Fargo & Company raised their price target on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.59.

ConocoPhillips Company 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.