ConocoPhillips $COP Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp trimmed its holdings in ConocoPhillips (NYSE:COP) by 1.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,026 shares of the energy producer’s stock after selling 1,794 shares during the quarter. Hancock Whitney Corp’s holdings in ConocoPhillips were worth $12,815,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Triumph Capital Management increased its stake in shares of ConocoPhillips by 6.7% during the fourth quarter. Triumph Capital Management now owns 2,364 shares of the energy producer’s stock valued at $234,000 after acquiring an additional 149 shares during the period. AXA S.A. boosted its position in shares of ConocoPhillips by 7.7% during the 4th quarter. AXA S.A. now owns 42,526 shares of the energy producer’s stock valued at $4,217,000 after purchasing an additional 3,056 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of ConocoPhillips in the 4th quarter worth approximately $1,128,000. Cetera Investment Advisers raised its holdings in shares of ConocoPhillips by 2.3% in the 4th quarter. Cetera Investment Advisers now owns 327,974 shares of the energy producer’s stock worth $32,525,000 after purchasing an additional 7,260 shares in the last quarter. Finally, Centiva Capital LP grew its position in ConocoPhillips by 146.0% in the fourth quarter. Centiva Capital LP now owns 11,678 shares of the energy producer’s stock worth $1,158,000 after buying an additional 6,930 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 4.3%

NYSE:COP opened at $94.71 on Thursday. The stock’s fifty day moving average price is $94.61 and its two-hundred day moving average price is $93.23. The company has a market cap of $118.28 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 2.60 and a beta of 0.69. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The firm had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period in the previous year, the business posted $1.98 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is presently 41.88%.

Insider Activity

In other news, EVP Kirk L. Johnson purchased 5,300 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $94.24 per share, with a total value of $499,472.00. Following the acquisition, the executive vice president directly owned 14,527 shares of the company’s stock, valued at approximately $1,369,024.48. This represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. Melius started coverage on ConocoPhillips in a research report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price target for the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 target price (up from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Roth Capital restated a “buy” rating on shares of ConocoPhillips in a report on Wednesday. Susquehanna decreased their target price on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research report on Wednesday, July 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 price target (up from $119.00) on shares of ConocoPhillips in a research report on Sunday, August 10th. Sixteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.95.

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.