Webster Bank N. A. Decreases Stock Position in ConocoPhillips (NYSE:COP)

Webster Bank N. A. lowered its position in shares of ConocoPhillips (NYSE:COP) by 20.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,410 shares of the energy producer’s stock after selling 357 shares during the period. Webster Bank N. A.’s holdings in ConocoPhillips were worth $179,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC purchased a new position in ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC lifted its stake in shares of ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Sachetta LLC purchased a new position in ConocoPhillips in the fourth quarter valued at about $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter valued at approximately $27,000. Finally, Cape Investment Advisory Inc. increased its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after purchasing an additional 121 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COP has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Thursday. Raymond James reiterated a “strong-buy” rating and issued a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Barclays upped their price objective on ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Price Performance

NYSE COP opened at $114.38 on Friday. The company has a 50-day moving average price of $118.30 and a two-hundred day moving average price of $117.58. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18. The stock has a market cap of $133.77 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. The business had revenue of $14.48 billion during the quarter, compared to analyst estimates of $14.72 billion. Analysts forecast that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

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.