Central Pacific Bank Trust Division Has $1.28 Million Holdings in ConocoPhillips (NYSE:COP)

Central Pacific Bank Trust Division cut its holdings in ConocoPhillips (NYSE:COP) by 18.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,898 shares of the energy producer’s stock after selling 2,935 shares during the quarter. Central Pacific Bank Trust Division’s holdings in ConocoPhillips were worth $1,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in shares of ConocoPhillips during the third quarter worth approximately $26,000. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips in the 3rd quarter valued at approximately $31,000. Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock worth $34,000 after acquiring an additional 153 shares during the last quarter. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the second quarter valued at $35,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on COP. BMO Capital Markets boosted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Piper Sandler dropped their price objective on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Evercore ISI reiterated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on ConocoPhillips from $131.00 to $134.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Truist Financial dropped their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $136.71.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded up $1.23 during trading hours on Friday, reaching $101.31. 2,021,527 shares of the stock traded hands, compared to its average volume of 3,522,212. The company has a 50 day moving average price of $104.85 and a 200 day moving average price of $108.20. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $116.60 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.08%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 37.10%.

Insiders Place Their Bets

In other ConocoPhillips news, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the purchase, the director now owns 21,500 shares of the company’s stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of 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 disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.