ConocoPhillips $COP Position Lessened by Towne Trust Company N.A

Towne Trust Company N.A decreased its position in shares of ConocoPhillips (NYSE:COP) by 49.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,634 shares of the energy producer’s stock after selling 45,971 shares during the period. ConocoPhillips accounts for approximately 2.0% of Towne Trust Company N.A’s portfolio, making the stock its 16th biggest position. Towne Trust Company N.A’s holdings in ConocoPhillips were worth $6,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of COP. AXA S.A. increased its holdings in ConocoPhillips by 91.1% in the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock worth $7,622,000 after buying an additional 40,499 shares during the last quarter. Sei Investments Co. lifted its stake in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares during the last quarter. BNP Paribas bought a new stake in ConocoPhillips in the second quarter worth approximately $33,000. Osterweis Capital Management Inc. acquired a new position in shares of ConocoPhillips during the 2nd quarter worth $151,000. Finally, Main Street Financial Solutions LLC increased its stake in shares of ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock worth $431,000 after purchasing an additional 1,675 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $132.71, for a total transaction of $15,025,558.91. Following the transaction, the chief executive officer owned 350,000 shares in the company, valued at approximately $46,448,500. The trade was a 24.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Scotiabank lifted their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada set a $130.00 target price on shares of ConocoPhillips in a research report on Monday, June 22nd. Morgan Stanley cut their target price on ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Finally, Capital One Financial decreased their price target on ConocoPhillips from $156.00 to $154.00 and set an “equal weight” rating for the company in a research note on Monday, May 18th. Eighteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Stock Down 0.7%

COP stock opened at $105.63 on Friday. The stock has a market capitalization of $128.69 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.17 and a beta of 0.11. The company has a 50-day moving average of $117.29 and a two-hundred day moving average of $111.81. ConocoPhillips has a 52-week low of $85.57 and a 52-week high of $135.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. ConocoPhillips had a return on equity of 11.39% and a net margin of 12.10%.The business had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same period in the previous year, the company posted $2.09 earnings per share. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. As a group, equities research analysts anticipate that ConocoPhillips will post 10.03 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.36 dividend on an annualized basis and a yield of 3.2%. ConocoPhillips’s payout ratio is 57.05%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.