ConocoPhillips (NYSE:COP) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its position in ConocoPhillips (NYSE:COP) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,229 shares of the energy producer’s stock after selling 3,051 shares during the period. Cullen Frost Bankers Inc.’s holdings in ConocoPhillips were worth $22,931,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in ConocoPhillips by 13.0% in the fourth quarter. Arizona State Retirement System now owns 377,315 shares of the energy producer’s stock worth $37,418,000 after acquiring an additional 43,449 shares during the last quarter. Vantage Financial Partners LLC lifted its holdings in ConocoPhillips by 6.9% in the fourth quarter. Vantage Financial Partners LLC now owns 3,482 shares of the energy producer’s stock worth $345,000 after acquiring an additional 224 shares during the last quarter. Aigen Investment Management LP lifted its holdings in ConocoPhillips by 307.2% in the fourth quarter. Aigen Investment Management LP now owns 61,722 shares of the energy producer’s stock worth $6,121,000 after acquiring an additional 46,564 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in ConocoPhillips by 21.3% in the fourth quarter. Proficio Capital Partners LLC now owns 14,733 shares of the energy producer’s stock worth $1,461,000 after acquiring an additional 2,591 shares during the last quarter. Finally, SPC Financial Inc. lifted its holdings in ConocoPhillips by 7.6% in the fourth quarter. SPC Financial Inc. now owns 3,464 shares of the energy producer’s stock worth $344,000 after acquiring an additional 246 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares in the company, valued at $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arjun N. Murti bought 2,500 shares of the business’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, 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. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Price Performance

NYSE COP opened at $88.98 on Thursday. The stock has a market capitalization of $113.21 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The business’s fifty day moving average is $99.82 and its two-hundred day moving average is $104.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

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

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price on the stock. Truist Financial lifted their price target on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler cut their price target on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. TD Cowen started coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Finally, The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $133.47.

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.