First National Trust Co boosted its holdings in shares of ConocoPhillips (NYSE:COP – Free Report) by 167.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,191 shares of the energy producer’s stock after acquiring an additional 30,795 shares during the period. First National Trust Co’s holdings in ConocoPhillips were worth $5,626,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FSB Premier Wealth Management Inc. increased its position in shares of ConocoPhillips by 47.6% during the second quarter. FSB Premier Wealth Management Inc. now owns 4,127 shares of the energy producer’s stock worth $472,000 after acquiring an additional 1,331 shares in the last quarter. Archer Investment Corp boosted its stake in ConocoPhillips by 39.7% in the 2nd quarter. Archer Investment Corp now owns 3,965 shares of the energy producer’s stock worth $453,000 after purchasing an additional 1,126 shares during the period. Founders Financial Securities LLC increased its holdings in ConocoPhillips by 11.9% during the 2nd quarter. Founders Financial Securities LLC now owns 10,412 shares of the energy producer’s stock worth $1,191,000 after purchasing an additional 1,110 shares in the last quarter. Regal Partners Ltd acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $15,014,000. Finally, Naviter Wealth LLC lifted its holdings in shares of ConocoPhillips by 3.0% in the second quarter. Naviter Wealth LLC now owns 24,533 shares of the energy producer’s stock valued at $2,806,000 after purchasing an additional 714 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
COP has been the subject of a number of research reports. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group boosted their price objective on shares of ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Royal Bank of Canada lifted their price target on shares of ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, May 15th. Finally, Scotiabank lowered their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Five research 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, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $143.65.
ConocoPhillips Stock Down 3.5 %
Shares of COP opened at $109.86 on Wednesday. The firm has a market cap of $128.49 billion, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 0.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 52 week low of $102.27 and a 52 week high of $135.18. The firm’s 50-day simple moving average is $111.60 and its 200 day simple moving average is $117.10.
ConocoPhillips (NYSE:COP – Get Free Report) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. On average, analysts forecast that ConocoPhillips will post 8.5 earnings per share for the current year.
ConocoPhillips Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.
Insider Activity
In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company 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.
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