Whittier Trust Co. of Nevada Inc. Has $13.42 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 812.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 127,811 shares of the energy producer's stock after buying an additional 113,797 shares during the quarter. Whittier Trust Co. of Nevada Inc.'s holdings in ConocoPhillips were worth $13,423,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of ConocoPhillips by 11.7% during the fourth quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer's stock worth $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 13.8% during the 4th 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 acquiring an additional 5,549,078 shares in the last quarter. Capital International Investors raised 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 valued at $3,101,989,000 after purchasing an additional 1,473,027 shares during the last quarter. Geode Capital Management LLC lifted its position 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 purchasing an additional 3,397,360 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in ConocoPhillips by 37.1% during the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer's stock worth $1,544,101,000 after purchasing an additional 4,211,939 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Wall Street Analyst Weigh In

COP has been the topic of several recent research reports. Piper Sandler reiterated an "overweight" rating and issued a $123.00 price target (up from $113.00) on shares of ConocoPhillips in a research note on Tuesday. Scotiabank set a $100.00 target price on ConocoPhillips and gave the company a "sector perform" rating in a research report on Friday. Citigroup reduced their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Raymond James Financial reiterated an "outperform" rating and set a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Finally, Bank of America decreased their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $122.70.

Insiders Place Their Bets

In related news, EVP Kirk L. Johnson bought 5,300 shares of the business's stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by corporate insiders.

ConocoPhillips Stock Performance

Shares of COP stock traded down $1.46 on Tuesday, hitting $92.71. The company's stock had a trading volume of 4,149,910 shares, compared to its average volume of 7,648,581. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a market capitalization of $117.20 billion, a PE ratio of 12.03, a PEG ratio of 2.54 and a beta of 0.61. The stock's 50 day moving average is $90.72 and its 200-day moving average is $94.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.13 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The firm had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the prior year, the business posted $2.05 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a yield of 3.37%. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

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.