Amalgamated Bank Trims Holdings in ConocoPhillips (NYSE:COP)

Amalgamated Bank decreased its stake in shares of ConocoPhillips (NYSE:COP) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 289,786 shares of the energy producer’s stock after selling 16,189 shares during the period. Amalgamated Bank’s holdings in ConocoPhillips were worth $33,635,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the 3rd quarter valued at $27,000. West Branch Capital LLC raised its position in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Oliver Lagore Vanvalin Investment Group increased its stake in shares of ConocoPhillips by 63.1% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after buying an additional 111 shares during the period. Spartan Planning & Wealth Management bought a new position in shares of ConocoPhillips during the third quarter valued at approximately $40,000. Finally, Nemes Rush Group LLC raised its holdings in shares of ConocoPhillips by 163.9% during the third quarter. Nemes Rush Group LLC now owns 380 shares of the energy producer’s stock valued at $46,000 after acquiring an additional 236 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Mizuho reaffirmed a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. UBS Group upped their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Scotiabank lifted their target price on shares of ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a report on Thursday, April 11th. Wells Fargo & Company upped their price target on ConocoPhillips from $141.00 to $149.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, Piper Sandler increased their target price on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.65.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $2.09 during midday trading on Thursday, hitting $122.25. 7,014,866 shares of the stock traded hands, compared to its average volume of 5,364,279. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The firm has a market capitalization of $143.82 billion, a P/E ratio of 13.73, a PEG ratio of 2.76 and a beta of 1.25. The firm has a 50-day moving average of $123.43 and a two-hundred day moving average of $117.72.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.32. The business had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same period last year, the firm posted $2.71 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 9.11 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Buying and Selling at ConocoPhillips

In related news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ConocoPhillips news, VP Christopher P. Delk sold 8,505 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.34% of the company’s stock.

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.