ConocoPhillips (NYSE:COP) Shares Sold by Sabal Trust CO

Sabal Trust CO lowered its stake in ConocoPhillips (NYSE:COP) by 86.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,027 shares of the energy producer’s stock after selling 12,434 shares during the quarter. Sabal Trust CO’s holdings in ConocoPhillips were worth $232,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Sachetta LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at about $27,000. Cooksen Wealth LLC acquired a new stake in ConocoPhillips during the 4th quarter worth about $27,000. Cape Investment Advisory Inc. raised its holdings in ConocoPhillips by 96.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock worth $29,000 after buying an additional 121 shares during the period. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Finally, Richardson Capital Management LLC acquired a new stake in ConocoPhillips during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP traded down $0.58 during mid-day trading on Friday, hitting $113.79. The company’s stock had a trading volume of 5,559,473 shares, compared to its average volume of 5,656,144. ConocoPhillips has a one year low of $102.27 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The firm has a market capitalization of $133.08 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.24. The stock’s 50-day moving average is $111.73 and its two-hundred day moving average is $116.99.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $1.84 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.64 EPS for the current year.

ConocoPhillips Cuts Dividend

The company 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 $0.58 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.04%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on COP shares. UBS Group upped their target price on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. StockNews.com downgraded ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada upped their target price on ConocoPhillips from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, May 15th. Wolfe Research started coverage on ConocoPhillips in a report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Finally, Sanford C. Bernstein dropped their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Five 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.65.

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.