ConocoPhillips (NYSE:COP) Shares Sold by Bank & Trust Co

Bank & Trust Co cut its position in shares of ConocoPhillips (NYSE:COP) by 5.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,883 shares of the energy producer’s stock after selling 173 shares during the quarter. Bank & Trust Co’s holdings in ConocoPhillips were worth $303,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after acquiring an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ConocoPhillips by 13.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after purchasing an additional 5,549,078 shares during the period. Capital International Investors boosted its position in ConocoPhillips by 4.9% during the fourth quarter. Capital International Investors now owns 31,287,113 shares of the energy producer’s stock worth $3,101,989,000 after purchasing an additional 1,473,027 shares in the last quarter. Geode Capital Management LLC grew its holdings in ConocoPhillips by 13.7% in the fourth quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock valued at $2,792,521,000 after purchasing an additional 3,397,360 shares during the period. Finally, Invesco Ltd. increased its position in shares of ConocoPhillips by 37.1% in the fourth quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock valued at $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $86.62 on Tuesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $109.50 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.79 and a beta of 0.64. The business has a 50 day simple moving average of $90.13 and a 200-day simple moving average of $97.05.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $15.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is currently 39.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on COP shares. UBS Group decreased their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Scotiabank decreased their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Finally, Raymond James reiterated an “outperform” rating and issued a $109.00 price objective (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Three equities research 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.63.

About ConocoPhillips

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.