MidFirst Bank Buys New Position in ConocoPhillips $COP

MidFirst Bank purchased a new stake in ConocoPhillips (NYSE:COP) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,528 shares of the energy producer’s stock, valued at approximately $611,000.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in ConocoPhillips by 14.7% during the 3rd quarter. Victory Capital Management Inc. now owns 2,331,176 shares of the energy producer’s stock valued at $220,506,000 after purchasing an additional 298,245 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of ConocoPhillips by 8.7% during the third quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock worth $188,842,000 after buying an additional 160,410 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of ConocoPhillips by 31.2% during the fourth quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after buying an additional 20,501 shares during the period. SPX Gestao de Recursos Ltda purchased a new stake in shares of ConocoPhillips during the third quarter valued at $1,892,000. Finally, D.A. Davidson & CO. grew its holdings in shares of ConocoPhillips by 10.5% during the fourth quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock valued at $14,572,000 after buying an additional 14,833 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 6,994 shares of ConocoPhillips stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $127.06, for a total transaction of $888,657.64. Following the completion of the transaction, the executive vice president directly owned 5,395 shares of the company’s stock, valued at $685,488.70. The trade was a 56.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Michael Lance sold 113,221 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 350,000 shares of the company’s stock, valued at approximately $46,448,500. This represents a 24.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 127,915 shares of company stock valued at $16,915,448. 0.09% of the stock is owned by company insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $107.92 on Friday. The firm’s fifty day moving average is $118.65 and its two-hundred day moving average is $111.25. The firm has a market cap of $131.48 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.19 and a beta of 0.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. ConocoPhillips has a one year low of $85.57 and a one year high of $135.87.

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

ConocoPhillips Announces Dividend

The business also recently declared 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. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio (DPR) is currently 57.05%.

Analysts Set New Price Targets

COP has been the subject of a number of research analyst reports. Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Wolfe Research boosted their price target on ConocoPhillips from $138.00 to $144.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Zacks Research lowered ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Barclays raised their price objective on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ConocoPhillips in a research report on Wednesday, June 3rd. Seventeen analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.48.

ConocoPhillips Company 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.