Stock Yards Bank & Trust Co. Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Stock Yards Bank & Trust Co. cut its stake in ConocoPhillips (NYSE:COP) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,162 shares of the energy producer’s stock after selling 535 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $4,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. grew its holdings in shares of ConocoPhillips by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock valued at $1,560,000 after purchasing an additional 483 shares during the period. Meridian Wealth Management LLC grew its stake in shares of ConocoPhillips by 9.2% in the 4th quarter. Meridian Wealth Management LLC now owns 2,919 shares of the energy producer’s stock valued at $339,000 after buying an additional 247 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $41,000. Paragon Private Wealth Management LLC raised its position in shares of ConocoPhillips by 8.7% during the 4th quarter. Paragon Private Wealth Management LLC now owns 1,851 shares of the energy producer’s stock valued at $215,000 after buying an additional 148 shares during the period. Finally, Coldstream Capital Management Inc. lifted its holdings in ConocoPhillips by 23.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 20,451 shares of the energy producer’s stock valued at $2,374,000 after acquiring an additional 3,910 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Mizuho cut their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday. Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $147.00 price target on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, Barclays boosted their price target on shares of ConocoPhillips from $158.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.06.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $105.56 on Tuesday. The business has a 50-day simple moving average of $110.03 and a 200-day simple moving average of $116.69. The company has a market cap of $122.58 billion, a PE ratio of 11.95, a P/E/G ratio of 0.78 and a beta of 1.22. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The firm’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 8.41 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

About ConocoPhillips

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.