Glenview Trust co Has $2.27 Million Stock Position in ConocoPhillips (NYSE:COP)

Glenview Trust co boosted its stake in ConocoPhillips (NYSE:COP) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,905 shares of the energy producer’s stock after acquiring an additional 840 shares during the quarter. Glenview Trust co’s holdings in ConocoPhillips were worth $2,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of COP. Tidal Investments LLC grew its stake in shares of ConocoPhillips by 42.7% during the 3rd quarter. Tidal Investments LLC now owns 103,553 shares of the energy producer’s stock worth $10,902,000 after acquiring an additional 31,011 shares in the last quarter. Leavell Investment Management Inc. raised its stake in ConocoPhillips by 59.8% in the 4th quarter. Leavell Investment Management Inc. now owns 19,166 shares of the energy producer’s stock valued at $1,901,000 after acquiring an additional 7,174 shares during the period. Brookstone Capital Management raised its position in shares of ConocoPhillips by 4.5% in the fourth quarter. Brookstone Capital Management now owns 8,855 shares of the energy producer’s stock valued at $878,000 after purchasing an additional 383 shares during the period. Prospera Financial Services Inc raised its holdings in ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer’s stock valued at $7,488,000 after acquiring an additional 13,595 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in ConocoPhillips by 1.9% during the 3rd 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 and hedge funds own 82.36% of the company’s stock.

Insider Activity

In other ConocoPhillips news, Director Arjun N. Murti purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now owns 21,500 shares in the company, valued at $2,061,205. The trade was a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R A. Walker purchased 10,400 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. The trade was a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $99.10 on Monday. The stock has a market cap of $126.09 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.79 and a beta of 1.12. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a 50 day simple moving average of $99.22 and a 200 day simple moving average of $103.75. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (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%. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen began coverage on ConocoPhillips in a research report on Friday, January 17th. They set a “buy” rating and a $125.00 price objective on the stock. Truist Financial raised their price target on shares of ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Morgan Stanley started coverage on shares of ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 price objective for the company. Piper Sandler lowered their target price on shares of ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wells Fargo & Company cut 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. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.05.

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.