American National Bank Sells 2,056 Shares of ConocoPhillips (NYSE:COP)

American National Bank cut its stake in shares of ConocoPhillips (NYSE:COP) by 20.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,959 shares of the energy producer’s stock after selling 2,056 shares during the quarter. American National Bank’s holdings in ConocoPhillips were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of COP. Sunflower Bank N.A. bought a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $220,000. Wedmont Private Capital lifted its holdings in shares of ConocoPhillips by 2.4% in the 1st quarter. Wedmont Private Capital now owns 14,862 shares of the energy producer’s stock worth $1,965,000 after acquiring an additional 353 shares during the last quarter. Enterprise Bank & Trust Co lifted its holdings in shares of ConocoPhillips by 3.0% in the 1st quarter. Enterprise Bank & Trust Co now owns 3,475 shares of the energy producer’s stock worth $442,000 after acquiring an additional 100 shares during the last quarter. Fulton Bank N.A. lifted its holdings in shares of ConocoPhillips by 2.8% in the 1st quarter. Fulton Bank N.A. now owns 37,042 shares of the energy producer’s stock worth $4,715,000 after acquiring an additional 1,004 shares during the last quarter. Finally, Cardinal Capital Management Inc. lifted its holdings in shares of ConocoPhillips by 5.3% in the 1st quarter. Cardinal Capital Management Inc. now owns 122,140 shares of the energy producer’s stock worth $15,546,000 after acquiring an additional 6,110 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho decreased their target price on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 5th. Susquehanna lifted their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Bank of America reaffirmed a “buy” rating and issued a $147.00 target price on shares of ConocoPhillips in a research note on Friday, June 14th. Raymond James reaffirmed a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, Argus raised shares of ConocoPhillips to a “strong-buy” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares of the company’s stock, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares of the company’s stock, valued at $1,836,161.68. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.0 %

ConocoPhillips stock traded up $0.01 during mid-day trading on Friday, reaching $111.34. The stock had a trading volume of 26,922,502 shares, compared to its average volume of 5,684,613. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $130.22 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.95 and a beta of 1.22. The company has a 50-day moving average price of $120.16 and a two-hundred day moving average price of $117.46. ConocoPhillips has a one year low of $99.35 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.04. The business had revenue of $14.48 billion for the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. On average, analysts expect that ConocoPhillips will post 8.91 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

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.