Stock Yards Bank & Trust Co. Boosts Stake in ConocoPhillips $COP

Stock Yards Bank & Trust Co. lifted its position in shares of ConocoPhillips (NYSE:COP) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,489 shares of the energy producer’s stock after acquiring an additional 3,813 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $3,454,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of COP. Naples Global Advisors LLC lifted its stake in ConocoPhillips by 3.6% in the 1st quarter. Naples Global Advisors LLC now owns 16,467 shares of the energy producer’s stock valued at $1,729,000 after buying an additional 565 shares in the last quarter. Cypress Wealth Services LLC lifted its stake in ConocoPhillips by 32.8% in the 1st quarter. Cypress Wealth Services LLC now owns 2,779 shares of the energy producer’s stock valued at $292,000 after buying an additional 686 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in ConocoPhillips by 71.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 6,279 shares of the energy producer’s stock valued at $660,000 after buying an additional 2,625 shares in the last quarter. Thrive Wealth Management LLC lifted its stake in ConocoPhillips by 16.0% in the 1st quarter. Thrive Wealth Management LLC now owns 3,559 shares of the energy producer’s stock valued at $374,000 after buying an additional 490 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in ConocoPhillips by 45.8% in the 1st quarter. Vest Financial LLC now owns 16,418 shares of the energy producer’s stock valued at $1,724,000 after buying an additional 5,158 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on COP. Raymond James Financial decreased their price target on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, September 8th. Melius started coverage on shares of ConocoPhillips in a research note on Wednesday, August 20th. They issued a “hold” rating and a $117.00 target price on the stock. BMO Capital Markets raised their target price on shares of ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Roth Capital reissued a “buy” rating on shares of ConocoPhillips in a research note on Wednesday, September 3rd. Finally, Mizuho decreased their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Sixteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Stock Up 0.8%

Shares of NYSE COP opened at $94.17 on Friday. The company has a 50 day simple moving average of $94.92 and a 200-day simple moving average of $92.91. The company has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $116.08.

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

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

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.