Indiana Trust & Investment Management Co Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Indiana Trust & Investment Management Co lifted its stake in ConocoPhillips (NYSE:COP) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,663 shares of the energy producer’s stock after acquiring an additional 363 shares during the quarter. Indiana Trust & Investment Management Co’s holdings in ConocoPhillips were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Albion Financial Group UT increased its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips in the third quarter valued at about $31,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the third quarter worth about $31,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Up 2.3 %

NYSE COP opened at $101.72 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 52 week low of $94.23 and a 52 week high of $135.18. The firm has a market capitalization of $117.08 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.77 and a beta of 1.18. The company has a fifty day moving average of $100.91 and a two-hundred day moving average of $106.03.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates 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 predict that ConocoPhillips will post 8.3 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.07%. ConocoPhillips’s dividend payout ratio is 40.05%.

Insider Transactions at ConocoPhillips

In related news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were purchased at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the acquisition, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arjun N. Murti acquired 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 acquisition, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on COP shares. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research report on Monday, January 13th. TD Cowen began coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 target price on the stock. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $157.00 to $124.00 in a report on Monday. Finally, Morgan Stanley assumed coverage on shares of ConocoPhillips in a research note on Monday, December 16th. They set an “overweight” rating and a $128.00 target price on the stock. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $133.72.

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.