First Citizens Bank & Trust Co. Acquires 2,894 Shares of ConocoPhillips (NYSE:COP)

First Citizens Bank & Trust Co. increased its holdings in ConocoPhillips (NYSE:COP) by 3.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 90,833 shares of the energy producer’s stock after buying an additional 2,894 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in ConocoPhillips were worth $9,539,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Kennebec Savings Bank raised its holdings in shares of ConocoPhillips by 6.4% during the first quarter. Kennebec Savings Bank now owns 5,839 shares of the energy producer’s stock valued at $613,000 after purchasing an additional 349 shares during the last quarter. City Center Advisors LLC purchased a new stake in ConocoPhillips during the 1st quarter valued at $294,000. RDA Financial Network lifted its holdings in shares of ConocoPhillips by 6.3% during the 1st quarter. RDA Financial Network now owns 2,632 shares of the energy producer’s stock valued at $276,000 after buying an additional 156 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of ConocoPhillips by 6.1% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 21,284 shares of the energy producer’s stock worth $2,235,000 after buying an additional 1,221 shares during the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of ConocoPhillips by 2.1% in the 1st quarter. Wedmont Private Capital now owns 19,149 shares of the energy producer’s stock worth $2,011,000 after buying an additional 393 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.1%

COP stock opened at $87.18 on Monday. The company has a market capitalization of $110.21 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.79 and a beta of 0.61. The business has a 50 day simple moving average of $88.74 and a two-hundred day simple moving average of $96.32. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to the consensus estimate of $15.74 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. Research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. Mizuho reduced their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Raymond James reiterated an “outperform” rating and set a $109.00 price target (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Susquehanna reduced their price objective on ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research note on Monday, May 12th. Finally, UBS Group lowered their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $121.63.

About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.