Iowa State Bank Has $2.32 Million Stock Position in ConocoPhillips (NYSE:COP)

Iowa State Bank cut its holdings in shares of ConocoPhillips (NYSE:COP) by 4.8% in the first quarter, Holdings Channel reports. The institutional investor owned 22,083 shares of the energy producer’s stock after selling 1,113 shares during the quarter. Iowa State Bank’s holdings in ConocoPhillips were worth $2,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tallon Kerry Patrick acquired a new position in shares of ConocoPhillips during the fourth quarter valued at about $511,000. Cibc World Market Inc. increased its stake in ConocoPhillips by 543.0% during the fourth quarter. Cibc World Market Inc. now owns 146,843 shares of the energy producer’s stock valued at $14,562,000 after acquiring an additional 124,006 shares during the period. Hunter Associates Investment Management LLC increased its stake in ConocoPhillips by 8.0% during the fourth quarter. Hunter Associates Investment Management LLC now owns 3,221 shares of the energy producer’s stock valued at $322,000 after acquiring an additional 238 shares during the period. TCI Wealth Advisors Inc. raised its holdings in ConocoPhillips by 18.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 2,252 shares of the energy producer’s stock valued at $223,000 after acquiring an additional 351 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of ConocoPhillips in the 4th quarter worth approximately $87,000. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on COP shares. UBS Group decreased their price objective on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James restated an “outperform” rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Bank of America reduced their price objective on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Finally, Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a research note on Monday, May 12th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average target price of $121.63.

ConocoPhillips Stock Down 0.6%

NYSE COP opened at $85.12 on Friday. The stock’s 50 day simple moving average is $90.46 and its 200 day simple moving average is $97.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The firm has a market cap of $107.61 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The company had revenue of $16.18 billion for the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. As a group, sell-side analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, May 19th. ConocoPhillips’s dividend payout ratio is currently 39.64%.

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.