Private Trust Co. NA Has $843,000 Stake in ConocoPhillips (NYSE:COP)

Private Trust Co. NA raised its stake in ConocoPhillips (NYSE:COP) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,006 shares of the energy producer’s stock after buying an additional 382 shares during the period. Private Trust Co. NA’s holdings in ConocoPhillips were worth $843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Vicus Capital increased its position in shares of ConocoPhillips by 3.7% during the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. boosted its position in shares of ConocoPhillips by 2.5% during the 2nd quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock valued at $446,000 after purchasing an additional 96 shares in the last quarter. Excalibur Management Corp grew its stake in ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the period. Cypress Capital Group lifted its stake in ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock valued at $1,978,000 after buying an additional 96 shares during the period. Finally, First Hawaiian Bank boosted its holdings in shares of ConocoPhillips by 0.3% during the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Scotiabank lowered their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets upped their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, UBS Group reduced their price objective on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Trading Up 0.7 %

Shares of COP stock opened at $106.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company has a market capitalization of $122.92 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a 50-day simple moving average of $108.89 and a two-hundred day simple moving average of $111.01.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. Research analysts anticipate that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.92%. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.