Midwest Trust Co Purchases 18,137 Shares of ConocoPhillips $COP

Midwest Trust Co lifted its position in ConocoPhillips (NYSE:COP) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 424,672 shares of the energy producer’s stock after buying an additional 18,137 shares during the period. Midwest Trust Co’s holdings in ConocoPhillips were worth $56,057,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its position in ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock worth $8,067,000 after purchasing an additional 20,501 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of ConocoPhillips by 10.5% during the 4th 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 period. Czech National Bank boosted its stake in shares of ConocoPhillips by 2.7% in the 4th quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock worth $30,502,000 after buying an additional 8,635 shares during the last quarter. BXM Wealth LLC grew its holdings in shares of ConocoPhillips by 691.6% in the fourth quarter. BXM Wealth LLC now owns 40,016 shares of the energy producer’s stock worth $3,746,000 after acquiring an additional 34,961 shares during the period. Finally, Assetmark Inc. increased its position in ConocoPhillips by 17.6% during the fourth quarter. Assetmark Inc. now owns 410,229 shares of the energy producer’s stock valued at $38,402,000 after acquiring an additional 61,361 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

COP has been the topic of a number of recent research reports. Freedom Capital downgraded ConocoPhillips from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Mizuho reduced their price target on shares of ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating for the company in a research report on Tuesday, July 7th. Jefferies Financial Group increased their price objective on shares of ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Morgan Stanley dropped their price objective on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating on the stock in a report on Friday, June 26th. Finally, Susquehanna boosted their target price on shares of ConocoPhillips from $149.00 to $152.00 in a research report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $134.04.

ConocoPhillips Price Performance

NYSE:COP traded up $1.04 during trading hours on Friday, hitting $109.06. 6,977,036 shares of the stock traded hands, compared to its average volume of 7,638,942. The company has a market cap of $132.86 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.31 and a beta of 0.12. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The stock has a 50 day moving average price of $114.15 and a 200 day moving average price of $112.66. The company has a quick ratio of 1.14, a current ratio of 1.29 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion during the quarter, compared to analysts’ expectations of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 9.28 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, May 11th. ConocoPhillips’s dividend payout ratio is presently 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.