ConocoPhillips (NYSE:COP) Shares Bought by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. boosted its position in shares of ConocoPhillips (NYSE:COP) by 30.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,137 shares of the energy producer’s stock after buying an additional 726 shares during the quarter. New Covenant Trust Company N.A.’s holdings in ConocoPhillips were worth $329,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COP. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC grew its position in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at about $31,000. Ruedi Wealth Management Inc. grew its position in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the second quarter valued at about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $107.84 on Friday. The company’s 50 day simple moving average is $107.94 and its 200-day simple moving average is $112.90. The company has a market capitalization of $125.23 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Insider Buying and Selling

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial lowered their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday. UBS Group lowered their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

About ConocoPhillips

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.