Trust Co. of Toledo NA OH Trims Position in ConocoPhillips (NYSE:COP)

Trust Co. of Toledo NA OH lessened its holdings in ConocoPhillips (NYSE:COP) by 10.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 7,267 shares of the energy producer’s stock after selling 857 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in ConocoPhillips were worth $925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Orion Capital Management LLC bought a new stake in ConocoPhillips in the 3rd quarter valued at $27,000. West Branch Capital LLC boosted its stake in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Sachetta LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Cooksen Wealth LLC bought a new position in ConocoPhillips during the fourth quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. boosted its stake in ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after buying an additional 121 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COP. StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Piper Sandler increased their price target on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Royal Bank of Canada increased their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Argus raised ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Finally, Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Trading Down 0.1 %

COP opened at $109.41 on Thursday. The stock’s fifty day moving average is $120.59 and its two-hundred day moving average is $117.50. The company has a market capitalization of $127.96 billion, a P/E ratio of 12.39, a PEG ratio of 1.95 and a beta of 1.22. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, topping the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Analysts forecast that ConocoPhillips will post 8.91 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $3.12 annualized dividend and a yield of 2.85%. ConocoPhillips’s payout ratio is currently 26.27%.

Insiders Place Their Bets

In other news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at approximately $1,836,161.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William L. Jr. Bullock sold 45,200 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total value of $5,574,064.00. Following the completion of the transaction, the chief financial officer now directly owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The disclosure for this sale can be found here. Insiders have sold 664,350 shares of company stock worth $83,537,680 in the last ninety days. 0.34% of the stock is owned by company insiders.

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.