Intrust Bank NA trimmed its stake in shares of ConocoPhillips (NYSE:COP) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,447 shares of the energy producer’s stock after selling 348 shares during the quarter. ConocoPhillips accounts for about 0.6% of Intrust Bank NA’s holdings, making the stock its 26th largest position. Intrust Bank NA’s holdings in ConocoPhillips were worth $2,499,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Lenox Wealth Advisors LLC purchased a new position in ConocoPhillips during the first quarter worth about $27,000. Smart Portfolios LLC grew its position in ConocoPhillips by 69.5% during the fourth quarter. Smart Portfolios LLC now owns 478 shares of the energy producer’s stock worth $30,000 after buying an additional 196 shares in the last quarter. Clarfeld Financial Advisors LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $32,000. Athena Capital Advisors LLC purchased a new position in ConocoPhillips during the fourth quarter worth about $32,000. Finally, Destination Wealth Management grew its position in ConocoPhillips by 592.6% during the first quarter. Destination Wealth Management now owns 561 shares of the energy producer’s stock worth $37,000 after buying an additional 480 shares in the last quarter. Institutional investors own 72.16% of the company’s stock.
COP has been the subject of several recent analyst reports. Piper Jaffray Companies restated a “hold” rating on shares of ConocoPhillips in a research report on Tuesday, February 12th. Morgan Stanley boosted their target price on ConocoPhillips from $77.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a report on Wednesday, March 13th. Credit Suisse Group upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Tuesday, April 30th. Finally, ValuEngine cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $78.36.
ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. The company had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $9.16 billion. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. During the same period in the prior year, the business posted $0.96 EPS. On average, equities research analysts predict that ConocoPhillips will post 4.35 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.93%.
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ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its 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 conventional and unconventional exploration prospects.
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