First Citizens Bank & Trust Co. Sells 1,834 Shares of ConocoPhillips (NYSE:COP)

First Citizens Bank & Trust Co. cut its stake in ConocoPhillips (NYSE:COP) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 87,939 shares of the energy producer’s stock after selling 1,834 shares during the period. First Citizens Bank & Trust Co.’s holdings in ConocoPhillips were worth $8,721,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. AXA S.A. raised its stake in shares of ConocoPhillips by 7.1% during the second quarter. AXA S.A. now owns 32,046 shares of the energy producer’s stock worth $3,665,000 after buying an additional 2,116 shares during the last quarter. AQR Capital Management LLC lifted its holdings in ConocoPhillips by 25.2% during the second quarter. AQR Capital Management LLC now owns 615,172 shares of the energy producer’s stock worth $70,363,000 after acquiring an additional 123,834 shares in the last quarter. Mackenzie Financial Corp increased its stake in ConocoPhillips by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 1,262,477 shares of the energy producer’s stock worth $144,402,000 after purchasing an additional 20,443 shares in the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in shares of ConocoPhillips by 1,005.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 306,327 shares of the energy producer’s stock worth $35,038,000 after acquiring an additional 278,627 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in shares of ConocoPhillips by 5.3% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 64,708 shares of the energy producer’s stock valued at $7,401,000 after purchasing an additional 3,286 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP opened at $101.88 on Friday. ConocoPhillips has a fifty-two week low of $94.23 and a fifty-two week high of $135.18. The firm’s 50-day simple moving average is $102.98 and its two-hundred day simple moving average is $107.13. The stock has a market cap of $117.26 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. Analysts anticipate that ConocoPhillips will post 7.65 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were paid a $0.78 dividend. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.06%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $132.00 to $134.00 in a report on Monday, December 16th. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company reduced their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. BMO Capital Markets upped their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Morgan Stanley assumed coverage on ConocoPhillips in a research note on Monday, December 16th. They issued an “overweight” rating and a $128.00 price target for the company. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $135.89.

Insider Activity

In related news, Director R A. Walker acquired 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arjun N. Murti acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the acquisition, the director now owns 21,500 shares in the company, valued at $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. Insiders own 0.34% of the company’s stock.

ConocoPhillips 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.