CHICAGO TRUST Co NA Grows Stake in ConocoPhillips (NYSE:COP)

CHICAGO TRUST Co NA raised its stake in ConocoPhillips (NYSE:COP) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,417 shares of the energy producer’s stock after acquiring an additional 305 shares during the period. CHICAGO TRUST Co NA’s holdings in ConocoPhillips were worth $276,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cooksen Wealth LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Sachetta LLC purchased a new stake in shares of ConocoPhillips in the fourth quarter worth $27,000. Richardson Capital Management LLC bought a new position in shares of ConocoPhillips during the first quarter valued at $31,000. Cape Investment Advisory Inc. lifted its holdings in shares of ConocoPhillips by 96.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares in the last quarter. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

COP traded up $0.34 during midday trading on Friday, reaching $108.61. The company had a trading volume of 5,776,222 shares, compared to its average volume of 5,712,622. The company has a quick ratio of 1.21, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $111.81 and a two-hundred day moving average of $117.00. The company has a market cap of $127.02 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.14 and a beta of 1.24. ConocoPhillips has a 1 year low of $102.27 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the prior year, the business posted $1.84 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that ConocoPhillips will post 8.73 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Analysts Set New Price Targets

COP has been the topic of a number of research analyst reports. Royal Bank of Canada upped their price target on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Sanford C. Bernstein lowered their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Wolfe Research initiated coverage on ConocoPhillips in a report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price target on the stock. Wells Fargo & Company lowered their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America reissued a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $143.53.

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.