Independence Bank of Kentucky Grows Stock Position in ConocoPhillips (NYSE:COP)

Independence Bank of Kentucky increased its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 55.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,030 shares of the energy producer’s stock after buying an additional 1,440 shares during the quarter. Independence Bank of Kentucky’s holdings in ConocoPhillips were worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in COP. West Tower Group LLC purchased a new position in ConocoPhillips during the second quarter worth about $27,000. Orion Capital Management LLC purchased a new position in ConocoPhillips during the third quarter worth about $27,000. West Branch Capital LLC lifted its position in ConocoPhillips by 87.8% during the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after buying an additional 108 shares during the period. RVW Wealth LLC acquired a new stake in ConocoPhillips during the third quarter worth about $28,000. Finally, Fairfield Bush & CO. acquired a new stake in ConocoPhillips during the first quarter worth about $31,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total value of $953,070.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Dominic E. Macklon sold 23,372 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $112.17, for a total transaction of $2,621,637.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 700,775 shares of company stock worth $87,615,169. 0.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Raymond James dropped their price target on ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. lowered their target price on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Susquehanna lowered their target price on ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a research note on Friday, January 26th. Morgan Stanley increased their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Finally, Piper Sandler lowered their target price on ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.35.

Read Our Latest Stock Analysis on COP

ConocoPhillips Trading Up 1.6 %

Shares of NYSE COP opened at $130.69 on Wednesday. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $130.84. The company has a market cap of $153.74 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 2.92 and a beta of 1.24. The stock’s 50 day simple moving average is $115.53 and its 200 day simple moving average is $116.20. The company has a current ratio of 1.43, a quick ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 EPS for the quarter, beating the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the business earned $2.71 earnings per share. Equities research analysts expect that ConocoPhillips will post 8.81 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Thursday, February 15th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 25.61%.

ConocoPhillips Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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