Field & Main Bank Sells 260 Shares of ConocoPhillips (NYSE:COP)

Field & Main Bank lessened its position in ConocoPhillips (NYSE:COP) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,145 shares of the energy producer’s stock after selling 260 shares during the quarter. Field & Main Bank’s holdings in ConocoPhillips were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in ConocoPhillips during the first quarter valued at about $3,526,000. TCI Wealth Advisors Inc. purchased a new stake in shares of ConocoPhillips during the first quarter worth about $207,000. Atomi Financial Group Inc. boosted its holdings in shares of ConocoPhillips by 6.1% during the first quarter. Atomi Financial Group Inc. now owns 6,798 shares of the energy producer’s stock worth $865,000 after purchasing an additional 393 shares during the period. Sei Investments Co. boosted its holdings in shares of ConocoPhillips by 1.3% during the first quarter. Sei Investments Co. now owns 549,846 shares of the energy producer’s stock worth $69,983,000 after purchasing an additional 6,902 shares during the period. Finally, Choate Investment Advisors boosted its holdings in shares of ConocoPhillips by 3.0% during the first quarter. Choate Investment Advisors now owns 68,480 shares of the energy producer’s stock worth $8,716,000 after purchasing an additional 2,001 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on COP shares. Truist Financial dropped their target price 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Mizuho raised their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Wolfe Research assumed coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Finally, BMO Capital Markets raised their target price 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. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $111.59 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market cap of $128.43 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21. The firm’s fifty day moving average is $107.73 and its two-hundred day moving average is $112.40. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the firm posted $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. ConocoPhillips’s payout ratio is 27.59%.

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.