Sabal Trust CO Acquires New Shares in ConocoPhillips (NYSE:COP)

Sabal Trust CO acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,108 shares of the energy producer’s stock, valued at approximately $209,000.

Other institutional investors have also recently bought and sold shares of the company. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after purchasing an additional 228 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips during the fourth quarter valued at $27,000. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Finally, Global Wealth Strategies & Associates raised its holdings in ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of several recent research reports. Piper Sandler cut their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group cut their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and raised their target price for the company from $132.00 to $134.00 in a report on Monday, December 16th. Wells Fargo & Company cut their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $133.47.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were acquired at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at $3,716,400. The trade was a 37.68 % 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.

ConocoPhillips Stock Down 1.0 %

COP stock opened at $96.06 on Thursday. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The company has a market cap of $122.23 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.79 and a beta of 1.18. The business’s 50-day simple moving average is $100.07 and its 200 day simple moving average is $105.21. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a $0.78 dividend. The ex-dividend date is Friday, February 14th. This represents a $3.12 annualized dividend and a dividend yield of 3.25%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.