ConocoPhillips (NYSE:COP) Stake Boosted by Coastline Trust Co

Coastline Trust Co grew its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,775 shares of the energy producer’s stock after purchasing an additional 813 shares during the quarter. Coastline Trust Co’s holdings in ConocoPhillips were worth $786,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Morgan Stanley grew its holdings in shares of ConocoPhillips by 26.6% during the fourth quarter. Morgan Stanley now owns 16,647,723 shares of the energy producer’s stock valued at $1,964,432,000 after purchasing an additional 3,497,750 shares during the last quarter. Northern Trust Corp increased its position in ConocoPhillips by 3.2% in the 3rd quarter. Northern Trust Corp now owns 12,486,871 shares of the energy producer’s stock valued at $1,495,927,000 after acquiring an additional 386,276 shares during the period. Bank of New York Mellon Corp increased its position in ConocoPhillips by 10.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 12,028,061 shares of the energy producer’s stock valued at $1,440,962,000 after acquiring an additional 1,152,907 shares during the period. Moneta Group Investment Advisors LLC increased its position in ConocoPhillips by 98,832.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,584,373 shares of the energy producer’s stock valued at $1,012,956,000 after acquiring an additional 8,575,696 shares during the period. Finally, Ameriprise Financial Inc. increased its position in ConocoPhillips by 8.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,063,795 shares of the energy producer’s stock valued at $968,410,000 after acquiring an additional 659,632 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

COP opened at $130.69 on Wednesday. The stock has a fifty day moving average of $115.53 and a 200-day moving average of $116.20. The firm has a market capitalization of $153.74 billion, a P/E ratio of 14.42, a PEG ratio of 2.92 and a beta of 1.24. ConocoPhillips has a 12-month low of $95.70 and a 12-month high of $130.84. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36.

ConocoPhillips (NYSE:COPGet Free Report) last released its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter in the prior year, the company earned $2.71 earnings per share. Equities analysts forecast that ConocoPhillips will post 8.81 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.39%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 25.61%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO William L. Jr. Bullock sold 45,200 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now directly owns 44,153 shares in the company, valued at $5,444,947.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the sale, the chief executive officer now owns 6,780 shares of the company’s stock, valued at $853,669.80. The disclosure for this sale can be found here. Insiders sold 700,775 shares of company stock worth $87,615,169 over the last quarter. Corporate insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on COP. UBS Group raised their target price on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Scotiabank raised their target price on ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Friday, February 9th. Morgan Stanley raised their target price on ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Mizuho reaffirmed a “neutral” rating and set a $139.00 price target (up from $132.00) on shares of ConocoPhillips in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. decreased their price target on ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $135.35.

Read Our Latest Stock Analysis on COP

About ConocoPhillips

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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