Atlantic Union Bankshares Corp Has $5.59 Million Holdings in ConocoPhillips (NYSE:COP)

Atlantic Union Bankshares Corp lessened its holdings in ConocoPhillips (NYSE:COP) by 0.4% during the first quarter, HoldingsChannel reports. The fund owned 53,209 shares of the energy producer’s stock after selling 238 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in ConocoPhillips were worth $5,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp bought a new stake in ConocoPhillips in the 4th quarter worth about $26,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $32,000. Garde Capital Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $35,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of ConocoPhillips during the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $91.75 on Friday. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a market cap of $115.99 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. The company has a 50-day moving average price of $91.03 and a 200-day moving average price of $94.57. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.04. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same period in the previous year, the company earned $2.05 earnings per share. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.40%. ConocoPhillips’s payout ratio is 39.64%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on COP shares. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. UBS Group upped their price target on shares of ConocoPhillips from $111.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Royal Bank Of Canada lowered their target price on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Piper Sandler reiterated an “overweight” rating and issued a $123.00 target price (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $120.94.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson acquired 5,300 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the completion of the acquisition, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by 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.