Truist Financial Corp Sells 107,545 Shares of ConocoPhillips (NYSE:COP)

Truist Financial Corp reduced its stake in shares of ConocoPhillips (NYSE:COP - Free Report) by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 688,965 shares of the energy producer's stock after selling 107,545 shares during the quarter. Truist Financial Corp owned about 0.06% of ConocoPhillips worth $68,325,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of ConocoPhillips by 19.0% during 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 during the last quarter. Wellington Management Group LLP boosted its stake in ConocoPhillips by 20.2% during the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer's stock valued at $3,280,725,000 after purchasing an additional 5,240,016 shares during the period. Fisher Asset Management LLC grew its position in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer's stock worth $1,311,369,000 after purchasing an additional 4,656,040 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of ConocoPhillips by 5,422.3% in the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of ConocoPhillips by 401.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 4,423,611 shares of the energy producer's stock valued at $438,690,000 after buying an additional 3,541,504 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Down 4.0 %

Shares of ConocoPhillips stock traded down $4.10 during trading on Friday, hitting $97.90. The stock had a trading volume of 8,561,843 shares, compared to its average volume of 6,781,136. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $124.57 billion, a PE ratio of 12.57, a P/E/G ratio of 0.78 and a beta of 1.18. ConocoPhillips has a 1 year low of $94.23 and a 1 year high of $135.18. The stock has a 50 day simple moving average of $100.11 and a 200 day simple moving average of $105.44.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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 net margin of 16.23% and a return on equity of 17.26%. On average, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 17th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.19%. ConocoPhillips's dividend payout ratio is 40.05%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. UBS Group lowered their target price on ConocoPhillips from $140.00 to $137.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Piper Sandler lowered their price target on ConocoPhillips from $135.00 to $114.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Raymond James cut shares of ConocoPhillips from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $157.00 to $124.00 in a research note on Monday, February 10th. Evercore ISI restated an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Finally, Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $132.00 to $128.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has an average rating of "Moderate Buy" and an average price target of $133.56.

Insider Transactions at ConocoPhillips

In other news, Director R A. Walker acquired 10,400 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, December 17th. The stock was purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the completion of the transaction, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Arjun N. Murti bought 2,500 shares of the stock in a transaction on Friday, December 20th. The stock was purchased at an average price of $95.87 per share, for a total transaction of $239,675.00. Following the purchase, the director now directly owns 21,500 shares of the company's stock, valued at approximately $2,061,205. This represents 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 insiders.

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.