Mechanics Bank Trust Department Lowers Position in ConocoPhillips (NYSE:COP)

Mechanics Bank Trust Department lessened its holdings in shares of ConocoPhillips (NYSE:COPFree Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,600 shares of the energy producer’s stock after selling 217 shares during the quarter. Mechanics Bank Trust Department’s holdings in ConocoPhillips were worth $1,858,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cardinal Capital Management Inc. bought a new position in shares of ConocoPhillips in the 4th quarter worth $13,468,000. Columbia Trust Co 01012016 increased its stake in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after acquiring an additional 112 shares during the last quarter. Raymond James & Associates raised its position in ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Quotient Wealth Partners LLC bought a new stake in ConocoPhillips during the fourth quarter worth about $5,594,000. Finally, Townsquare Capital LLC boosted its holdings in shares of ConocoPhillips by 4.3% in the 3rd quarter. Townsquare Capital LLC now owns 56,739 shares of the energy producer’s stock worth $6,797,000 after purchasing an additional 2,348 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Down 0.6 %

NYSE:COP traded down $0.69 during trading hours on Tuesday, hitting $114.48. The company had a trading volume of 2,768,301 shares, compared to its average volume of 5,687,724. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The stock has a 50-day moving average price of $119.46 and a 200 day moving average price of $117.55. The company has a market capitalization of $133.89 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.98 and a beta of 1.23. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COPGet Free Report) last announced its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. On average, equities research analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent research reports. Truist Financial boosted their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Morgan Stanley increased their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Royal Bank of Canada boosted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 15th. Finally, Scotiabank raised their price objective on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus price target of $144.18.

Read Our Latest Analysis on ConocoPhillips

ConocoPhillips Company Profile

(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.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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