Cetera Trust Company N.A Acquires New Position in ConocoPhillips $COP

Cetera Trust Company N.A acquired a new position in shares of ConocoPhillips (NYSE:COP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,365 shares of the energy producer’s stock, valued at approximately $870,000.

Other large investors have also recently bought and sold shares of the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of ConocoPhillips during the fourth quarter valued at approximately $25,000. Strive Asset Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter worth approximately $28,000. Frazier Financial Advisors LLC lifted its holdings in shares of ConocoPhillips by 151.0% in the 1st quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock worth $32,000 after purchasing an additional 145 shares during the last quarter. Allied Private Wealth LLC acquired a new position in ConocoPhillips during the 2nd quarter valued at approximately $32,000. Finally, BNP Paribas bought a new position in ConocoPhillips during the 2nd quarter worth $33,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of analyst reports. BMO Capital Markets reduced their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Barclays lowered their target price on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Roth Capital raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their target price for the company from $124.00 to $130.00 in a research note on Monday, June 22nd. Jefferies Financial Group boosted their price target on ConocoPhillips from $160.00 to $161.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised ConocoPhillips from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Stock Down 1.1%

Shares of COP stock opened at $133.37 on Tuesday. The business’s fifty day moving average is $115.73 and its 200-day moving average is $117.97. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.88. The stock has a market cap of $160.22 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.43 and a beta of 0.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The business’s quarterly revenue was up 32.4% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 10.46 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Insiders Place Their Bets

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.

About ConocoPhillips

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.