Blue Trust Inc. Boosts Stock Position in ConocoPhillips $COP

Blue Trust Inc. boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 20,754 shares of the energy producer’s stock after acquiring an additional 276 shares during the period. Blue Trust Inc.’s holdings in ConocoPhillips were worth $1,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Financial Network Wealth Advisors LLC grew its position in ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $31,000. Garde Capital Inc. purchased a new position in shares of ConocoPhillips in the 1st quarter worth approximately $35,000. IMA Advisory Services Inc. bought a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $37,000. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock worth $38,000 after buying an additional 293 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 4.5%

NYSE:COP opened at $87.83 on Friday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The company has a market cap of $109.70 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. The stock has a fifty day simple moving average of $94.60 and a 200-day simple moving average of $92.59. 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 announced 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. The firm had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.98 earnings per share. Analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s payout ratio is 41.88%.

Analyst Ratings Changes

Several equities analysts recently commented on COP shares. JPMorgan Chase & Co. upped their price target on shares of ConocoPhillips from $114.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a research note on Wednesday. Susquehanna cut their price objective on ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. BMO Capital Markets lifted their target price on ConocoPhillips from $113.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Finally, Roth Capital reiterated a “buy” rating on shares of ConocoPhillips in a research report on Wednesday, September 3rd. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.23.

ConocoPhillips Company Profile

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.