First National Trust Co Buys 1,336 Shares of ConocoPhillips (NYSE:COP)

First National Trust Co lifted its position in shares of ConocoPhillips (NYSE:COP) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,527 shares of the energy producer’s stock after buying an additional 1,336 shares during the period. First National Trust Co’s holdings in ConocoPhillips were worth $5,319,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vicus Capital lifted its stake in ConocoPhillips by 3.7% in the second quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock worth $302,000 after purchasing an additional 94 shares during the last quarter. Montag A & Associates Inc. boosted its holdings in 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 acquiring an additional 96 shares during the period. Excalibur Management Corp grew its position in ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after acquiring an additional 96 shares during the last quarter. First Hawaiian Bank increased its stake in ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer’s stock worth $4,202,000 after purchasing an additional 97 shares during the period. Finally, Bank OZK lifted its position in ConocoPhillips by 1.6% in the second quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock valued at $715,000 after purchasing an additional 97 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

COP has been the topic of several recent analyst reports. Sanford C. Bernstein cut their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Mizuho boosted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Truist Financial cut their target price 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 lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Up 0.4 %

NYSE:COP opened at $112.08 on Tuesday. The firm has a 50-day simple moving average of $107.69 and a two-hundred day simple moving average of $112.04. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. 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 firm has a market cap of $128.99 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.91 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data 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. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Analysts predict that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a yield of 2.78%. ConocoPhillips’s payout ratio is 37.10%.

ConocoPhillips 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.