First National Bank of Mount Dora Trust Investment Services cut its stake in ConocoPhillips (NYSE:COP) by 43.9% in the 1st quarter, Holdings Channel reports. The fund owned 10,898 shares of the energy producer’s stock after selling 8,533 shares during the quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in ConocoPhillips were worth $577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Fulton Bank N.A. raised its position in ConocoPhillips by 11.0% during the first quarter. Fulton Bank N.A. now owns 38,516 shares of the energy producer’s stock valued at $2,040,000 after purchasing an additional 3,802 shares in the last quarter. Park National Corp OH increased its position in shares of ConocoPhillips by 19.0% during the 1st quarter. Park National Corp OH now owns 231,549 shares of the energy producer’s stock valued at $12,265,000 after purchasing an additional 36,937 shares during the last quarter. Thomasville National Bank increased its position in shares of ConocoPhillips by 30.0% during the 1st quarter. Thomasville National Bank now owns 15,795 shares of the energy producer’s stock valued at $486,000 after purchasing an additional 3,647 shares during the last quarter. Legacy Wealth Asset Management LLC purchased a new position in shares of ConocoPhillips during the 4th quarter valued at about $664,000. Finally, Valley Brook Capital Group bought a new stake in ConocoPhillips in the 4th quarter worth approximately $48,000. 72.87% of the stock is currently owned by institutional investors and hedge funds.

COP has been the topic of several research reports. KeyCorp lifted their price target on shares of ConocoPhillips from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 17th. JPMorgan Chase & Co. initiated coverage on shares of ConocoPhillips in a research note on Tuesday, January 19th. They issued a “neutral” rating for the company. Morgan Stanley raised their price objective on ConocoPhillips from $58.00 to $73.00 and gave the company an “overweight” rating in a research note on Wednesday, March 17th. Mizuho upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $56.00 in a report on Tuesday, January 12th. Finally, Bank of America restated a “neutral” rating on shares of ConocoPhillips in a report on Monday, March 22nd. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. ConocoPhillips presently has an average rating of “Buy” and a consensus price target of $53.88.

Shares of COP traded down $0.97 on Thursday, reaching $51.41. The stock had a trading volume of 81,240 shares, compared to its average volume of 11,210,197. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.16 and a current ratio of 2.38. ConocoPhillips has a 12-month low of $27.53 and a 12-month high of $61.14. The firm has a market capitalization of $69.51 billion, a price-to-earnings ratio of -46.35, a price-to-earnings-growth ratio of 10.03 and a beta of 1.85. The company has a 50-day simple moving average of $54.01 and a 200-day simple moving average of $42.67.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Monday, February 1st. The energy producer reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. The business had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $4.69 billion. ConocoPhillips had a negative return on equity of 0.02% and a negative net margin of 5.66%. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, analysts expect that ConocoPhillips will post -0.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 12th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Thursday, February 11th. ConocoPhillips’s payout ratio is currently 47.91%.

ConocoPhillips Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the conventional and tight oil reservoirs, shale gas, heavy oil, LNG, oil sands, and other production operations.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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