ConocoPhillips (NYSE:COP) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of ConocoPhillips (NYSE:COP) by 72.5% during the fourth quarter, HoldingsChannel reports. The fund owned 1,888 shares of the energy producer’s stock after selling 4,989 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in ConocoPhillips were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its stake in shares of ConocoPhillips by 4.1% during the 3rd quarter. Global Retirement Partners LLC now owns 5,654 shares of the energy producer’s stock worth $641,000 after acquiring an additional 225 shares in the last quarter. RFG Advisory LLC grew its holdings in ConocoPhillips by 14.4% in the third quarter. RFG Advisory LLC now owns 5,077 shares of the energy producer’s stock valued at $608,000 after purchasing an additional 640 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of ConocoPhillips by 6.7% in the third quarter. Douglas Lane & Associates LLC now owns 3,616 shares of the energy producer’s stock valued at $433,000 after buying an additional 227 shares in the last quarter. Park Place Capital Corp raised its stake in shares of ConocoPhillips by 12.9% during the 3rd quarter. Park Place Capital Corp now owns 4,377 shares of the energy producer’s stock worth $524,000 after buying an additional 499 shares during the last quarter. Finally, Eastern Bank boosted its position in shares of ConocoPhillips by 0.6% in the 3rd quarter. Eastern Bank now owns 165,048 shares of the energy producer’s stock worth $19,773,000 after buying an additional 1,041 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a report on Monday. Raymond James reduced their target price 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. Mizuho reissued a “neutral” rating and set a $139.00 price target (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Piper Sandler upped their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Finally, Scotiabank increased their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.24.

ConocoPhillips Trading Down 0.0 %

COP stock opened at $129.33 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The company has a market cap of $152.15 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.73 and a beta of 1.24. The business has a fifty day simple moving average of $120.93 and a 200-day simple moving average of $117.31. ConocoPhillips has a 52 week low of $95.70 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the firm posted $2.71 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 9.47 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Thursday, February 15th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is currently 25.61%.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction on 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 directly owns 2,654 shares in the company, valued at $293,399.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other ConocoPhillips news, SVP Heather G. Hrap sold 4,548 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the sale, the senior vice president now directly owns 2,654 shares in the company, valued at approximately $293,399.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dominic E. Macklon sold 23,372 shares of the 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 disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock valued at $87,615,169 over the last 90 days. 0.34% of the stock is owned by corporate 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.