Private Trust Co. NA Acquires 382 Shares of ConocoPhillips (NYSE:COP)

Private Trust Co. NA lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,006 shares of the energy producer’s stock after acquiring an additional 382 shares during the quarter. Private Trust Co. NA’s holdings in ConocoPhillips were worth $843,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter valued at about $26,000. Stephens Consulting LLC grew its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new stake in ConocoPhillips during the third quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the second quarter worth approximately $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 0.7 %

Shares of ConocoPhillips stock opened at $106.80 on Wednesday. The firm’s 50 day moving average is $108.89 and its 200 day moving average is $111.01. The firm has a market capitalization of $122.92 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 earnings per share. The company’s revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

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.