ConocoPhillips $COP Shares Sold by Capital City Trust Co. FL

Capital City Trust Co. FL lowered its holdings in ConocoPhillips (NYSE:COP) by 7.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,042 shares of the energy producer’s stock after selling 302 shares during the period. Capital City Trust Co. FL’s holdings in ConocoPhillips were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of ConocoPhillips by 379.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares in the last quarter. Wellington Management Group LLP grew its holdings in ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after acquiring an additional 437,709 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after acquiring an additional 1,073,906 shares in the last quarter. Finally, Nuveen LLC acquired a new position in ConocoPhillips during the 1st quarter worth approximately $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on COP shares. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Piper Sandler boosted their price target on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Saturday, September 27th. Finally, Citigroup reduced their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.77.

ConocoPhillips Stock Up 0.8%

Shares of NYSE:COP opened at $94.17 on Friday. The firm has a 50 day simple moving average of $94.92 and a 200-day simple moving average of $92.85. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $116.08. The company has a market capitalization of $117.61 billion, a PE ratio of 12.64, a P/E/G ratio of 2.48 and a beta of 0.62. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm had revenue of $14.94 billion during the quarter, compared to the consensus estimate of $14.39 billion. During the same quarter in the prior year, the firm earned $1.98 EPS. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is 41.88%.

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.