BTC Capital Management Inc. Grows Holdings in ConocoPhillips (COP)

BTC Capital Management Inc. raised its stake in ConocoPhillips (NYSE:COP) by 0.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 144,669 shares of the energy producer’s stock after buying an additional 56 shares during the period. ConocoPhillips comprises 1.1% of BTC Capital Management Inc.’s holdings, making the stock its 22nd biggest holding. BTC Capital Management Inc.’s holdings in ConocoPhillips were worth $6,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in COP. Waldron LP boosted its position in ConocoPhillips by 44.5% in the 1st quarter. Waldron LP now owns 7,072 shares of the energy producer’s stock valued at $350,000 after buying an additional 2,178 shares during the period. GFS Advisors LLC boosted its position in ConocoPhillips by 1.7% in the 1st quarter. GFS Advisors LLC now owns 11,865 shares of the energy producer’s stock valued at $592,000 after buying an additional 200 shares during the period. Winch Advisory Services LLC boosted its position in ConocoPhillips by 31.1% in the 1st quarter. Winch Advisory Services LLC now owns 10,100 shares of the energy producer’s stock valued at $504,000 after buying an additional 2,396 shares during the period. Klingenstein Fields & Co. LLC boosted its position in ConocoPhillips by 0.4% in the 1st quarter. Klingenstein Fields & Co. LLC now owns 249,939 shares of the energy producer’s stock valued at $12,465,000 after buying an additional 950 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its position in ConocoPhillips by 2.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 409,788 shares of the energy producer’s stock valued at $20,436,000 after buying an additional 9,565 shares during the period. 68.90% of the stock is owned by institutional investors.

COP has been the subject of several research reports. Scotiabank set a $54.00 price objective on shares of ConocoPhillips and gave the company a “buy” rating in a research report on Saturday, July 1st. Royal Bank Of Canada reissued a “buy” rating and issued a $62.00 price objective on shares of ConocoPhillips in a research report on Thursday, June 15th. Citigroup Inc. lowered their price target on shares of ConocoPhillips from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Cowen and Company set a $55.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Bank of America Corporation raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $58.00 in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $54.15.

ConocoPhillips (NYSE:COP) opened at 49.19 on Wednesday. The company’s market cap is $59.86 billion. ConocoPhillips has a 1-year low of $40.37 and a 1-year high of $53.17. The company’s 50 day moving average is $46.68 and its 200 day moving average is $46.01.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, July 27th. The energy producer reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.16. ConocoPhillips had a negative net margin of 12.29% and a negative return on equity of 2.86%. The company had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. During the same quarter in the previous year, the firm earned ($0.79) earnings per share. Equities research analysts forecast that ConocoPhillips will post $0.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, October 16th will be paid a $0.265 dividend. The ex-dividend date is Friday, October 13th. This represents a $1.06 dividend on an annualized basis and a yield of 2.15%. ConocoPhillips’s dividend payout ratio is currently -34.98%.

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About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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