US Bancorp DE Sells 24,324 Shares of ConocoPhillips (NYSE:COP)

US Bancorp DE lowered its position in shares of ConocoPhillips (NYSE:COP) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 850,507 shares of the energy producer’s stock after selling 24,324 shares during the quarter. US Bancorp DE owned about 0.07% of ConocoPhillips worth $89,542,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted its position in shares of ConocoPhillips by 44.2% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 10,042 shares of the energy producer’s stock worth $1,278,000 after purchasing an additional 3,080 shares in the last quarter. Norden Group LLC lifted its holdings in shares of ConocoPhillips by 59.8% in the first quarter. Norden Group LLC now owns 7,270 shares of the energy producer’s stock valued at $925,000 after purchasing an additional 2,720 shares in the last quarter. Consolidated Portfolio Review Corp boosted its position in shares of ConocoPhillips by 5.5% during the first quarter. Consolidated Portfolio Review Corp now owns 2,341 shares of the energy producer’s stock valued at $298,000 after buying an additional 121 shares during the last quarter. Private Advisor Group LLC raised its position in ConocoPhillips by 7.2% in the 1st quarter. Private Advisor Group LLC now owns 70,612 shares of the energy producer’s stock valued at $8,988,000 after buying an additional 4,731 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in ConocoPhillips during the 1st quarter valued at $385,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Susquehanna lowered their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a report on Friday, October 18th. Barclays lowered their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Scotiabank reduced their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $136.94.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

COP stock opened at $109.54 on Friday. The firm has a 50 day moving average of $108.01 and a 200-day moving average of $113.17. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The firm has a market capitalization of $127.20 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.85%. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

ConocoPhillips Company 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.