Atlantic Union Bankshares Corp Has $5.30 Million Stock Holdings in ConocoPhillips (NYSE:COP)

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in COP. State Street Corp boosted its holdings in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock worth $7,046,263,000 after acquiring an additional 10,663,093 shares in the last quarter. Wellington Management Group LLP boosted its holdings in ConocoPhillips by 20.2% in the third quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after acquiring an additional 5,240,016 shares in the last quarter. Geode Capital Management LLC boosted its holdings in ConocoPhillips by 3.9% in the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after acquiring an additional 924,289 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in ConocoPhillips by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 13,780,782 shares of the energy producer’s stock worth $1,366,640,000 after acquiring an additional 1,324,771 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock worth $1,469,163,000 after acquiring an additional 1,506,599 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Stock Performance

NYSE:COP opened at $90.70 on Friday. 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 business has a fifty day simple moving average of $99.53 and a two-hundred day simple moving average of $104.38. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a market capitalization of $115.40 billion, a P/E ratio of 11.64, a P/E/G ratio of 0.79 and a beta of 1.12.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. On average, analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 17th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s payout ratio is currently 40.05%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group cut their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Evercore ISI restated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Truist Financial raised their target price on ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James lowered ConocoPhillips from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $157.00 to $124.00 in a report on Monday, February 10th. Finally, Barclays dropped their target price on ConocoPhillips from $137.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.47.

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.