Peoples Bank KS Increases Stock Position in ConocoPhillips (NYSE:COP)

Peoples Bank KS lifted its position in shares of ConocoPhillips (NYSE:COP) by 99.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790 shares of the energy producer’s stock after purchasing an additional 1,390 shares during the period. Peoples Bank KS’s holdings in ConocoPhillips were worth $293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COP. Cascade Investment Advisors Inc. boosted its stake in shares of ConocoPhillips by 3.3% in the 1st quarter. Cascade Investment Advisors Inc. now owns 15,635 shares of the energy producer’s stock worth $1,642,000 after buying an additional 500 shares during the last quarter. Marion Wealth Management lifted its holdings in ConocoPhillips by 16.8% during the first quarter. Marion Wealth Management now owns 15,845 shares of the energy producer’s stock worth $1,664,000 after acquiring an additional 2,280 shares during the period. Meyer Handelman Co. boosted its position in ConocoPhillips by 0.9% in the first quarter. Meyer Handelman Co. now owns 152,388 shares of the energy producer’s stock worth $16,004,000 after purchasing an additional 1,420 shares during the last quarter. New Hampshire Trust boosted its position in ConocoPhillips by 6.2% in the first quarter. New Hampshire Trust now owns 29,113 shares of the energy producer’s stock worth $3,057,000 after purchasing an additional 1,691 shares during the last quarter. Finally, Fulcrum Capital LLC grew its stake in ConocoPhillips by 14.0% in the 1st quarter. Fulcrum Capital LLC now owns 3,442 shares of the energy producer’s stock valued at $361,000 after purchasing an additional 422 shares during the period. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $85.12 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market capitalization 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. The firm’s 50 day simple moving average is $90.46 and its 200 day simple moving average is $97.34.

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

ConocoPhillips Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on COP shares. UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday. Scotiabank reduced their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price objective on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley increased their price objective on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $121.63.

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.