Trust Co. of Oklahoma Sells 2,134 Shares of ConocoPhillips (NYSE:COP)

Trust Co. of Oklahoma trimmed its holdings in shares of ConocoPhillips (NYSE:COP) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,109 shares of the energy producer’s stock after selling 2,134 shares during the quarter. Trust Co. of Oklahoma’s holdings in ConocoPhillips were worth $1,255,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in ConocoPhillips in the first quarter worth about $31,000. Cetera Investment Advisers increased its holdings in ConocoPhillips by 4.0% in the 1st quarter. Cetera Investment Advisers now owns 25,399 shares of the energy producer’s stock worth $2,540,000 after acquiring an additional 968 shares in the last quarter. Baird Financial Group Inc. raised its stake in ConocoPhillips by 1.9% during the 1st quarter. Baird Financial Group Inc. now owns 512,126 shares of the energy producer’s stock worth $51,213,000 after acquiring an additional 9,313 shares during the period. Zions Bancorporation N.A. lifted its holdings in ConocoPhillips by 59.1% during the first quarter. Zions Bancorporation N.A. now owns 1,810 shares of the energy producer’s stock valued at $181,000 after purchasing an additional 672 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of ConocoPhillips by 21.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 14,063 shares of the energy producer’s stock valued at $1,406,000 after buying an additional 2,465 shares in the last quarter. 80.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.3 %

COP traded up $1.56 during trading hours on Monday, reaching $125.13. 1,503,625 shares of the company’s stock traded hands, compared to its average volume of 5,817,698. ConocoPhillips has a 52-week low of $91.53 and a 52-week high of $138.49. The firm has a market capitalization of $149.84 billion, a PE ratio of 12.00, a PEG ratio of 0.78 and a beta of 1.30. The firm has a 50-day moving average price of $116.22 and a 200 day moving average price of $107.25. The company has a quick ratio of 1.28, a current ratio of 1.41 and a debt-to-equity ratio of 0.33.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.10). The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $14.64 billion. ConocoPhillips had a return on equity of 27.27% and a net margin of 18.66%. During the same period in the prior year, the business earned $3.91 EPS. As a group, sell-side analysts predict that ConocoPhillips will post 8.74 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 16th were issued a $0.51 dividend. The ex-dividend date was Wednesday, September 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.63%. ConocoPhillips’s payout ratio is 19.65%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on COP shares. UBS Group raised their price target on ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Wells Fargo & Company upped their price target on ConocoPhillips from $134.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. StockNews.com began coverage on shares of ConocoPhillips in a research note on Thursday, August 17th. They set a “hold” rating for the company. Jefferies Financial Group decreased their price target on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating on the stock in a research note on Monday, August 28th. Finally, Mizuho raised their price objective on ConocoPhillips from $135.00 to $139.00 and gave the company a “neutral” rating in a research report on Monday. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, CEO Ryan Michael Lance sold 569,400 shares of ConocoPhillips stock in a transaction on Friday, September 1st. The stock was sold at an average price of $122.14, for a total transaction of $69,546,516.00. Following the completion of the sale, the chief executive officer now directly owns 18,187 shares of the company’s stock, valued at approximately $2,221,360.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by company insiders.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.