CNB Bank Has $1.01 Million Stake in ConocoPhillips (NYSE:COP)

CNB Bank lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 14.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,577 shares of the energy producer’s stock after acquiring an additional 1,232 shares during the quarter. CNB Bank’s holdings in ConocoPhillips were worth $1,006,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of ConocoPhillips by 13.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock valued at $4,546,706,000 after purchasing an additional 5,549,078 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in shares of ConocoPhillips by 83.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock worth $1,897,000 after buying an additional 8,189 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of ConocoPhillips by 151.1% during the 1st quarter. Hennessy Advisors Inc. now owns 91,224 shares of the energy producer’s stock worth $9,580,000 after buying an additional 54,900 shares during the period. ORG Wealth Partners LLC grew its stake in ConocoPhillips by 853.3% in the 1st quarter. ORG Wealth Partners LLC now owns 6,616 shares of the energy producer’s stock valued at $698,000 after buying an additional 5,922 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan grew its stake in ConocoPhillips by 20.4% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 30,100 shares of the energy producer’s stock valued at $2,985,000 after buying an additional 5,100 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COP has been the subject of several research reports. Mizuho cut their price objective on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company reiterated an “overweight” rating and set a $117.00 target price (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday. Piper Sandler dropped their price target on ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Raymond James Financial restated an “outperform” rating and issued a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $121.50.

ConocoPhillips Stock Performance

Shares of NYSE:COP opened at $90.88 on Friday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The stock has a market capitalization of $114.89 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.27 and a quick ratio of 1.13. The company’s 50 day simple moving average is $89.93 and its 200 day simple moving average is $95.15.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter last year, the business posted $2.05 EPS. As a group, research analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.43%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s dividend payout ratio (DPR) is presently 39.64%.

Insider Buying and Selling at ConocoPhillips

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business’s stock in a transaction on Monday, June 16th. The shares were purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president now directly owns 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.24% 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.