CoreFirst Bank & Trust Takes Position in ConocoPhillips (NYSE:COP)

CoreFirst Bank & Trust acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,465 shares of the energy producer’s stock, valued at approximately $1,137,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after purchasing an additional 31,011 shares during the period. Leavell Investment Management Inc. increased its position in ConocoPhillips by 59.8% in the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after buying an additional 7,174 shares during the period. Brookstone Capital Management lifted its stake in ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after buying an additional 383 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock valued at $262,094,000 after acquiring an additional 46,621 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of ConocoPhillips by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,474,270 shares of the energy producer’s stock worth $155,211,000 after acquiring an additional 32,948 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $102.28 on Tuesday. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The firm has a 50-day moving average of $99.17 and a two-hundred day moving average of $103.33. The firm has a market capitalization of $130.14 billion, a PE ratio of 13.13, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 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, analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analyst Upgrades and Downgrades

Several research firms have commented on COP. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. TD Cowen assumed coverage on ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley initiated coverage on shares of ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips has an average rating of “Moderate Buy” and an average target price of $133.05.

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.