FineMark National Bank & Trust Grows Stake in ConocoPhillips (NYSE:COP)

FineMark National Bank & Trust increased its holdings in ConocoPhillips (NYSE:COP) by 2.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,629 shares of the energy producer’s stock after buying an additional 330 shares during the period. FineMark National Bank & Trust’s holdings in ConocoPhillips were worth $1,252,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in COP. Albion Financial Group UT boosted its position in shares of ConocoPhillips by 876.9% during the 4th 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. Centricity Wealth Management LLC bought a new stake in ConocoPhillips during the fourth quarter valued at approximately $27,000. Truvestments Capital LLC purchased a new position in ConocoPhillips in the 3rd quarter worth approximately $31,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips in the 4th quarter worth $32,000. Finally, Global Wealth Strategies & Associates raised its position in shares of ConocoPhillips by 80.5% during the 4th quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after buying an additional 153 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Evercore ISI restated an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial upped their target price on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.05.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $102.44 on Wednesday. The company has a market cap of $130.34 billion, a PE ratio of 13.15, a P/E/G ratio of 0.79 and a beta of 1.12. The business has a 50 day moving average of $99.12 and a 200 day moving average of $103.31. ConocoPhillips has a 52 week low of $86.81 and a 52 week high of $135.18. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, topping 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%. As a group, equities research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were given a dividend of $0.78 per share. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.05%. ConocoPhillips’s payout ratio is 40.05%.

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.