Legacy Private Trust Co. Raises Holdings in ConocoPhillips $COP

Legacy Private Trust Co. increased its stake in ConocoPhillips (NYSE:COP) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,855 shares of the energy producer’s stock after buying an additional 8,635 shares during the period. Legacy Private Trust Co.’s holdings in ConocoPhillips were worth $7,147,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. AG bought a new stake in ConocoPhillips during the 2nd quarter valued at about $6,896,000. Cetera Trust Company N.A bought a new position in shares of ConocoPhillips in the second quarter worth approximately $870,000. Qsemble Capital Management LP bought a new position in shares of ConocoPhillips in the second quarter worth approximately $3,645,000. Nicholas Investment Partners LP purchased a new stake in shares of ConocoPhillips during the second quarter valued at approximately $6,498,000. Finally, Osmosis Investment Management UK Ltd purchased a new stake in shares of ConocoPhillips during the second quarter valued at approximately $1,475,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on COP. Stifel Nicolaus initiated coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 price target for the company. Wells Fargo & Company upped their price objective on ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Truist Financial increased their target price on ConocoPhillips from $115.00 to $130.00 and gave the company a “hold” rating in a research note on Monday, August 10th. Morgan Stanley lifted their target price on ConocoPhillips from $147.00 to $151.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Barclays decreased their price target on ConocoPhillips from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $142.50.

ConocoPhillips Stock Performance

Shares of COP traded up $1.50 during mid-day trading on Tuesday, hitting $129.90. 1,692,887 shares of the company traded hands, compared to its average volume of 8,141,175. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.39 and a current ratio of 1.54. The stock has a 50-day moving average price of $128.54 and a two-hundred day moving average price of $121.84. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $141.62. The stock has a market cap of $156.05 billion, a price-to-earnings ratio of 17.18, a P/E/G ratio of 1.34 and a beta of 0.24.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. Equities analysts anticipate that ConocoPhillips will post 10.54 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. ConocoPhillips’s payout ratio is currently 44.44%.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares of the company’s stock, valued at $1,296,493.95. This represents a 49.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

ConocoPhillips Company Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.