8,635 ConocoPhillips $COP Shares Purchased by Legacy Private Trust Co.

Legacy Private Trust Co. increased its holdings in ConocoPhillips (NYSE:COP) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,855 shares of the energy producer’s stock after purchasing an additional 8,635 shares during the quarter. Legacy Private Trust Co.’s holdings in ConocoPhillips were worth $7,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. State Street Corp lifted its holdings in ConocoPhillips by 73.2% in the 2nd quarter. State Street Corp now owns 118,591,447 shares of the energy producer’s stock worth $12,328,767,000 after buying an additional 50,116,727 shares during the period. BlackRock Inc. increased its stake in shares of ConocoPhillips by 3.0% during the second quarter. BlackRock Inc. now owns 93,886,457 shares of the energy producer’s stock valued at $9,760,436,000 after buying an additional 2,712,703 shares during the period. Wellington Management Group LLP raised its holdings in shares of ConocoPhillips by 12.0% during the second quarter. Wellington Management Group LLP now owns 15,072,154 shares of the energy producer’s stock valued at $1,566,901,000 after acquiring an additional 1,609,759 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of ConocoPhillips by 4.5% during the fourth quarter. Franklin Resources Inc. now owns 15,038,675 shares of the energy producer’s stock valued at $1,407,770,000 after acquiring an additional 648,432 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in ConocoPhillips by 2.2% in the fourth quarter. Invesco Ltd. now owns 13,413,036 shares of the energy producer’s stock worth $1,255,594,000 after acquiring an additional 290,888 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COP. Seaport Research Partners assumed coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating on the stock. Roth Capital upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $124.00 to $130.00 in a report on Monday, June 22nd. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Argus raised their target price on shares of ConocoPhillips from $136.00 to $153.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley lifted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ConocoPhillips has a consensus rating of “Moderate Buy” and an average price target of $142.50.

ConocoPhillips Stock Up 1.2%

Shares of NYSE COP traded up $1.50 during mid-day trading on Tuesday, hitting $129.90. 1,692,887 shares of the stock traded hands, compared to its average volume of 8,141,175. The company has a market cap of $156.05 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.34 and a beta of 0.24. The stock has a fifty day moving average price of $128.54 and a 200-day moving average price of $121.84. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $141.62. 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 posted its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.The firm’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.42 earnings per share. Research analysts anticipate that ConocoPhillips will post 10.54 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insider Activity

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.