ConocoPhillips (NYSE:COP) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its holdings in ConocoPhillips (NYSE:COP - Free Report) by 14.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 589,767 shares of the energy producer's stock after selling 99,198 shares during the period. Truist Financial Corp's holdings in ConocoPhillips were worth $61,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of COP. Murphy & Mullick Capital Management Corp bought a new position in ConocoPhillips during the 4th quarter valued at $26,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $28,000. Crowley Wealth Management Inc. bought a new position in shares of ConocoPhillips during the 4th quarter valued at about $32,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips in the first quarter worth about $35,000. Finally, Rakuten Securities Inc. boosted its holdings in shares of ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer's stock worth $38,000 after buying an additional 262 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Scotiabank decreased their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a "sector perform" rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company reiterated an "overweight" rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Royal Bank Of Canada reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $121.80.

Insider Activity

In other ConocoPhillips news, EVP Kirk L. Johnson bought 5,300 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the purchase, the executive vice president directly owned 14,527 shares in the company, valued at $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company's stock.

ConocoPhillips Stock Performance

COP stock traded down $1.25 during trading on Wednesday, reaching $94.54. The stock had a trading volume of 3,121,158 shares, compared to its average volume of 8,533,186. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock's 50 day moving average is $90.30 and its two-hundred day moving average is $94.79. The firm has a market cap of $119.51 billion, a PE ratio of 12.01, a PEG ratio of 2.50 and a beta of 0.61. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $118.40.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the company earned $2.05 EPS. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

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.