Heartland Bank & Trust Co Lowers Stake in ConocoPhillips (NYSE:COP)

Heartland Bank & Trust Co lowered its stake in shares of ConocoPhillips (NYSE:COP) by 22.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,915 shares of the energy producer’s stock after selling 861 shares during the period. Heartland Bank & Trust Co’s holdings in ConocoPhillips were worth $307,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the 1st quarter valued at approximately $31,000. Ruedi Wealth Management Inc. raised its holdings in shares of ConocoPhillips by 150.0% in the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Valued Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 45.8% in the 1st quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after purchasing an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Susquehanna reduced their price objective on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company restated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Barclays cut their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Sanford C. Bernstein cut their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Trading Down 0.5 %

Shares of ConocoPhillips stock opened at $104.49 on Thursday. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. The company’s 50-day simple moving average is $108.74 and its 200-day simple moving average is $114.21. The firm has a market cap of $121.34 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the business posted $1.84 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.22%. ConocoPhillips’s payout ratio is currently 25.86%.

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, 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.