Heartland Bank & Trust Co Makes New Investment in ConocoPhillips $COP

Heartland Bank & Trust Co purchased a new position in shares of ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,996 shares of the energy producer’s stock, valued at approximately $923,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Patten Group Inc. raised its stake in ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer’s stock worth $719,000 after buying an additional 83 shares during the period. IFC Advisors LLC grew its stake in ConocoPhillips by 0.4% in the first quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer’s stock valued at $2,664,000 after acquiring an additional 84 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of ConocoPhillips by 9.6% in the first quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer’s stock worth $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of ConocoPhillips by 0.4% in the first quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer’s stock worth $2,791,000 after acquiring an additional 92 shares in the last quarter. Finally, Sigma Planning Corp raised its position in shares of ConocoPhillips by 0.6% during the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer’s stock worth $2,120,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP opened at $114.70 on Friday. The stock has a 50 day simple moving average of $113.48 and a 200 day simple moving average of $113.37. The stock has a market cap of $139.74 billion, a P/E ratio of 19.47, a PEG ratio of 1.36 and a beta of 0.12. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.87. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, April 30th. The energy producer reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for 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 for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 EPS. Research analysts anticipate that ConocoPhillips will post 9.2 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is presently 57.05%.

ConocoPhillips News Summary

Here are the key news stories impacting ConocoPhillips this week:

• Positive Sentiment: ConocoPhillips agreed to acquire a 42% stake in BP’s Iraq venture, increasing its exposure to the Kirkuk oilfields and more than 3 billion barrels of recoverable resources. Reuters article
• Positive Sentiment: The company’s Iraq agreement is part of a broader wave of U.S. corporate commitments to support Iraqi energy development, which may signal additional international growth potential. Financial Post article
• Positive Sentiment: Energy shares were broadly stronger, helping support ConocoPhillips alongside a sector-wide move higher. Yahoo Finance article
• Neutral Sentiment: Several reports noted that COP tends to move with crude oil prices, so commodity trends remain an important near-term driver for the stock. Kalkine Media article

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on COP shares. Argus lifted their price objective on ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a report on Friday, May 15th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their target price for the stock from $124.00 to $130.00 in a research note on Monday, June 22nd. Morgan Stanley dropped their target price 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. Susquehanna lifted their price target on shares of ConocoPhillips from $149.00 to $152.00 in a research note on Friday, May 1st. Finally, BMO Capital Markets cut their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.04.

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.