Hilltop National Bank Sells 422 Shares of ConocoPhillips (NYSE:COP)

Hilltop National Bank cut its position in shares of ConocoPhillips (NYSE:COP) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,432 shares of the energy producer’s stock after selling 422 shares during the quarter. Hilltop National Bank’s holdings in ConocoPhillips were worth $1,828,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC purchased a new stake in ConocoPhillips during the third quarter worth about $31,000. Y.D. More Investments Ltd bought a new stake in ConocoPhillips in the second quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its stake in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director R A. Walker bought 10,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised ConocoPhillips from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. UBS Group lowered their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Buy” and an average target price of $136.71.

ConocoPhillips Trading Down 0.0 %

Shares of COP traded down $0.02 during mid-day trading on Friday, hitting $101.60. 2,179,585 shares of the company’s stock traded hands, compared to its average volume of 4,832,643. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $116.93 billion, a P/E ratio of 12.08, a PEG ratio of 0.83 and a beta of 1.19. The business’s 50-day moving average price is $104.51 and its 200-day moving average price is $107.88. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.07%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

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.