Atlantic Union Bankshares Corp Sells 1,192 Shares of ConocoPhillips (NYSE:COP)

Atlantic Union Bankshares Corp decreased its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,447 shares of the energy producer’s stock after selling 1,192 shares during the period. Atlantic Union Bankshares Corp’s holdings in ConocoPhillips were worth $5,300,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its stake in ConocoPhillips by 42.7% during the third quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock valued at $10,902,000 after buying an additional 31,011 shares during the period. Leavell Investment Management Inc. lifted its stake in ConocoPhillips by 59.8% during the fourth quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock worth $1,901,000 after purchasing an additional 7,174 shares during the last quarter. Brookstone Capital Management lifted its stake in ConocoPhillips by 4.5% during the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock worth $878,000 after purchasing an additional 383 shares during the last quarter. Prospera Financial Services Inc lifted its stake in ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock worth $7,488,000 after purchasing an additional 13,595 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer’s stock worth $262,094,000 after purchasing an additional 46,621 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $90.70 on Friday. The stock has a market capitalization of $115.40 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. ConocoPhillips has a 12-month low of $86.81 and a 12-month high of $135.18. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $99.53 and its 200 day simple moving average is $104.38.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, research analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.44%. ConocoPhillips’s dividend payout ratio (DPR) is presently 40.05%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group set a $132.00 price target on ConocoPhillips in a research note on Thursday, January 30th. Wells Fargo & Company dropped their price target on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $132.00 to $134.00 in a report on Monday, December 16th. TD Cowen initiated coverage on ConocoPhillips in a report on Friday, January 17th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Barclays decreased their price objective on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $133.47.

Insider Buying and Selling at ConocoPhillips

In related news, Director R A. Walker bought 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arjun N. Murti bought 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were bought at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. The trade was a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.