Sanibel Captiva Trust Company Inc. Sells 6,815 Shares of ConocoPhillips (NYSE:COP)

Sanibel Captiva Trust Company Inc. cut its stake in ConocoPhillips (NYSE:COP - Free Report) by 14.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,250 shares of the energy producer's stock after selling 6,815 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in ConocoPhillips were worth $4,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of ConocoPhillips by 11.7% in the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares during the period. Price T Rowe Associates Inc. MD boosted 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 worth $4,546,706,000 after buying an additional 5,549,078 shares during the last quarter. Capital International Investors boosted its holdings in shares of ConocoPhillips by 4.9% in the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer's stock worth $3,101,989,000 after buying an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer's stock worth $2,792,521,000 after buying an additional 3,397,360 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after buying an additional 4,211,939 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

COP has been the topic of a number of research reports. Royal Bank of Canada dropped their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. UBS Group dropped their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Mizuho lowered their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler lowered their price target on shares of ConocoPhillips from $114.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $121.30.

ConocoPhillips Price Performance

COP traded up $2.31 during trading hours on Friday, hitting $97.00. The company's stock had a trading volume of 16,786,406 shares, compared to its average volume of 7,485,831. The business's 50-day moving average price is $88.91 and its 200-day moving average price is $95.95. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $118.40. The stock has a market cap of $122.63 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.79 and a beta of 0.61. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The company had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same quarter in the previous year, the business posted $2.05 earnings per share. Sell-side analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio is presently 39.64%.

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.