ConocoPhillips (NYSE:COP) Shares Sold by Capital City Trust Co. FL

Capital City Trust Co. FL decreased its stake in ConocoPhillips (NYSE:COP) by 38.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,849 shares of the energy producer’s stock after selling 3,703 shares during the period. Capital City Trust Co. FL’s holdings in ConocoPhillips were worth $679,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. West Tower Group LLC acquired a new position in ConocoPhillips in the second quarter valued at $27,000. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $27,000. West Branch Capital LLC boosted its position in shares of ConocoPhillips by 87.8% in the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the period. RVW Wealth LLC purchased a new position in ConocoPhillips during the 3rd quarter worth approximately $28,000. Finally, Fairfield Bush & CO. acquired a new position in ConocoPhillips during the first quarter worth approximately $31,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ConocoPhillips news, CEO Ryan Michael Lance sold 607,000 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total transaction of $502,781.40. Following the completion of the sale, the senior vice president now directly owns 2,654 shares in the company, valued at $293,399.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 700,775 shares of company stock valued at $87,615,169. 0.37% of the stock is owned by insiders.

ConocoPhillips Stock Performance

NYSE:COP opened at $127.28 on Friday. The firm’s fifty day simple moving average is $114.67 and its 200-day simple moving average is $116.21. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a market cap of $149.73 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 2.89 and a beta of 1.23. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $128.64.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. During the same period in the prior year, the business posted $2.71 earnings per share. Analysts expect that ConocoPhillips will post 8.79 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.45%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Analysts Set New Price Targets

Several research firms have recently weighed in on COP. Morgan Stanley increased their price objective on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday. Scotiabank increased their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Johnson Rice lowered shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research note on Thursday, December 14th. Susquehanna reduced their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a report on Friday, January 26th. Finally, UBS Group increased their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $135.35.

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.