AMG National Trust Bank Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

AMG National Trust Bank lifted its stake in shares of ConocoPhillips (NYSE:COP) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,606 shares of the energy producer’s stock after acquiring an additional 1,113 shares during the quarter. AMG National Trust Bank’s holdings in ConocoPhillips were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of COP. Price T Rowe Associates Inc. MD increased its holdings in ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC increased its holdings in ConocoPhillips by 83.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after buying an additional 8,189 shares during the last quarter. Schwartz Investment Counsel Inc. increased its holdings in ConocoPhillips by 159.6% in the first quarter. Schwartz Investment Counsel Inc. now owns 48,800 shares of the energy producer’s stock valued at $5,125,000 after buying an additional 30,000 shares during the last quarter. ORG Wealth Partners LLC increased its holdings in ConocoPhillips by 853.3% in the first quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after buying an additional 5,922 shares during the last quarter. Finally, Hennessy Advisors Inc. increased its holdings in ConocoPhillips by 151.1% in the first quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock valued at $9,580,000 after buying an additional 54,900 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president directly owned 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

Shares of COP opened at $91.75 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27. The company has a market capitalization of $115.99 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08. The firm has a 50-day simple moving average of $91.03 and a 200-day simple moving average of $94.53.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. The firm had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. During the same quarter last year, the firm earned $2.05 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on COP. Piper Sandler restated an “overweight” rating and issued a $123.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Tuesday, July 15th. Wells Fargo & Company restated an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Barclays decreased their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Raymond James Financial restated an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, UBS Group upped their price objective 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. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.94.

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.