Glenview Trust co Purchases 840 Shares of ConocoPhillips (NYSE:COP)

Glenview Trust co grew its position in ConocoPhillips (NYSE:COP) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 institutional investors also recently modified their holdings of the company. Strategic Financial Partners Ltd. boosted its stake in ConocoPhillips by 22.3% during the fourth quarter. Strategic Financial Partners Ltd. now owns 2,333 shares of the energy producer’s stock worth $231,000 after buying an additional 425 shares in the last quarter. Gallacher Capital Management LLC boosted its position in shares of ConocoPhillips by 35.1% during the 4th quarter. Gallacher Capital Management LLC now owns 10,743 shares of the energy producer’s stock valued at $1,065,000 after acquiring an additional 2,790 shares in the last quarter. Facet Wealth Inc. increased its stake in ConocoPhillips by 32.1% in the fourth quarter. Facet Wealth Inc. now owns 3,097 shares of the energy producer’s stock valued at $305,000 after acquiring an additional 753 shares during the period. Sovereign Investment Advisors LLC acquired a new position in ConocoPhillips in the fourth quarter worth about $234,000. Finally, Harbour Investments Inc. lifted its stake in ConocoPhillips by 26.6% during the fourth quarter. Harbour Investments Inc. now owns 16,632 shares of the energy producer’s stock worth $1,649,000 after purchasing an additional 3,491 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley started coverage on ConocoPhillips in a report on Monday, December 16th. They issued an “overweight” rating and a $128.00 target price for the company. Evercore ISI reissued an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Wells Fargo & Company lowered their target price on shares of ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. dropped their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, TD Cowen began coverage on shares of ConocoPhillips in a research report on Friday, January 17th. They issued a “buy” rating and a $125.00 price target on the stock. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $133.05.

Insider Transactions at ConocoPhillips

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

ConocoPhillips Stock Performance

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

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. Equities analysts predict 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 paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Friday, February 14th. ConocoPhillips’s dividend payout ratio (DPR) is currently 40.05%.

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.