36,661 ConocoPhillips $COP Shares Bought by First Financial Bank Trust Division

First Financial Bank Trust Division lifted its position in ConocoPhillips (NYSE:COP) by 744.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,583 shares of the energy producer’s stock after acquiring an additional 36,661 shares during the period. First Financial Bank Trust Division’s holdings in ConocoPhillips were worth $5,204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. Montecito Bank & Trust boosted its position in shares of ConocoPhillips by 43.0% during the third quarter. Montecito Bank & Trust now owns 19,199 shares of the energy producer’s stock worth $2,403,000 after purchasing an additional 5,770 shares in the last quarter. Cim Investment Management Inc. increased its position in shares of ConocoPhillips by 129.9% in the 2nd quarter. Cim Investment Management Inc. now owns 11,291 shares of the energy producer’s stock valued at $1,174,000 after buying an additional 6,380 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of ConocoPhillips by 110.7% in the 2nd quarter. QRG Capital Management Inc. now owns 427,689 shares of the energy producer’s stock valued at $44,463,000 after buying an additional 224,661 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in ConocoPhillips by 40.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 187,217 shares of the energy producer’s stock worth $19,463,000 after buying an additional 54,340 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in ConocoPhillips by 58.6% during the second quarter. Envestnet Asset Management Inc. now owns 4,526,206 shares of the energy producer’s stock worth $470,544,000 after acquiring an additional 1,672,707 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on COP shares. Seaport Research Partners initiated coverage on ConocoPhillips in a research note on Thursday, September 3rd. They issued a “neutral” rating for the company. UBS Group lifted their price objective on ConocoPhillips from $153.00 to $169.00 and gave the company a “buy” rating in a report on Monday, September 14th. Barclays decreased their price objective on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Finally, Wall Street Zen upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $141.24.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: Long-term LNG agreement: ConocoPhillips will purchase 1 million tonnes per year of liquefied natural gas from Venture Global for 20 years beginning in 2030. The agreement strengthens COP’s access to future LNG supplies and supports its global natural-gas strategy, although the financial impact is several years away. ConocoPhillips signs 20-year LNG deal with Venture Global
• Neutral Sentiment: Possible North Sea asset sale: COP is evaluating an unsolicited offer for its Norway business and UK Teesside asset. A sale could unlock cash and streamline the portfolio, but no transaction has been agreed, and the valuation and use of proceeds remain unknown. ConocoPhillips explores sale of Norway business and UK Teesside asset
• Neutral Sentiment: Potential Alaska energy tailwind: A reported $200 billion U.S.-South Korea investment arrangement involving an Alaska natural-gas pipeline and nuclear projects could benefit companies positioned in the region, including ConocoPhillips. However, the company’s direct role and timing have not been confirmed, making the near-term stock impact speculative. South Korea Set to Invest $200 Billion in the U.S.
• Negative Sentiment: Energy-sector pressure: Broad energy stocks declined in premarket trading, creating a negative commodity-sector backdrop for COP and potentially limiting gains despite the company-specific LNG announcement. Sector Update: Energy Stocks Fall Premarket Thursday

ConocoPhillips Stock Up 1.5%

Shares of COP traded up $1.82 during midday trading on Thursday, hitting $126.97. The stock had a trading volume of 6,069,611 shares, compared to its average volume of 8,204,200. The firm has a market cap of $152.53 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.32 and a beta of 0.13. The company has a 50 day simple moving average of $128.02 and a two-hundred day simple moving average of $121.73. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $141.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $18.79 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. ConocoPhillips’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, analysts anticipate that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s dividend payout ratio is 44.44%.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.