ConocoPhillips (COP) Shares Sold by Security National Trust Co.
Security National Trust Co. lowered its position in ConocoPhillips (NYSE:COP) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,137 shares of the energy producer’s stock after selling 930 shares during the quarter. Security National Trust Co.’s holdings in ConocoPhillips were worth $1,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Krilogy Financial LLC grew its holdings in ConocoPhillips by 48.6% during the second quarter. Krilogy Financial LLC now owns 2,392 shares of the energy producer’s stock valued at $105,000 after purchasing an additional 782 shares during the period. Rocky Mountain Advisers LLC grew its holdings in ConocoPhillips by 140.2% during the third quarter. Rocky Mountain Advisers LLC now owns 2,392 shares of the energy producer’s stock valued at $120,000 after purchasing an additional 1,396 shares during the period. Clear Perspective Advisors LLC grew its holdings in ConocoPhillips by 75.5% during the second quarter. Clear Perspective Advisors LLC now owns 2,790 shares of the energy producer’s stock valued at $123,000 after purchasing an additional 1,200 shares during the period. Lloyds Banking Group plc bought a new stake in ConocoPhillips during the second quarter valued at about $127,000. Finally, TLP Group LLC bought a new stake in ConocoPhillips during the second quarter valued at about $142,000. 69.66% of the stock is owned by institutional investors.
Shares of ConocoPhillips (NYSE:COP) opened at $55.63 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.38 and a quick ratio of 2.23. The company has a market capitalization of $65,847.36, a PE ratio of 76.63, a P/E/G ratio of 1.86 and a beta of 1.32. ConocoPhillips has a 52-week low of $42.26 and a 52-week high of $61.31.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be given a $0.285 dividend. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.27. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, February 9th. ConocoPhillips’s payout ratio is currently -212.00%.
ConocoPhillips announced that its board has approved a share repurchase program on Wednesday, November 8th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the energy producer to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several research firms have issued reports on COP. Piper Jaffray Companies reissued a “buy” rating and set a $63.00 price target on shares of ConocoPhillips in a report on Wednesday, January 24th. Morgan Stanley boosted their price target on ConocoPhillips from $48.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Macquarie began coverage on ConocoPhillips in a report on Wednesday, January 17th. They set an “outperform” rating for the company. Cowen set a $70.00 price target on ConocoPhillips and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Barclays boosted their price target on ConocoPhillips from $59.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $58.71.
In other news, Director Charles E. Bunch bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were bought at an average cost of $52.06 per share, for a total transaction of $104,120.00. Following the completion of the transaction, the director now owns 3,429 shares of the company’s stock, valued at $178,513.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by insiders.
ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.
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