ConocoPhillips (NYSE:COP) Shares Sold by Bank of Stockton

Bank of Stockton trimmed its position in shares of ConocoPhillips (NYSE:COP) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,785 shares of the energy producer’s stock after selling 350 shares during the quarter. Bank of Stockton’s holdings in ConocoPhillips were worth $1,133,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips during the fourth quarter worth $26,000. 10Elms LLP purchased a new stake in shares of ConocoPhillips during the fourth quarter worth approximately $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips in the 4th quarter worth approximately $32,000. Garde Capital Inc. acquired a new position in shares of ConocoPhillips during the 1st quarter worth approximately $35,000. Finally, Rakuten Securities Inc. increased its holdings in shares of ConocoPhillips by 222.0% in the fourth quarter. Rakuten Securities Inc. now owns 380 shares of the energy producer’s stock valued at $38,000 after purchasing an additional 262 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Stock Down 0.3%

ConocoPhillips stock opened at $89.12 on Thursday. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $118.40. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average of $89.89 and a two-hundred day moving average of $95.24. The stock has a market capitalization of $112.66 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.42 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.04. The company had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. During the same quarter in the prior year, the company earned $2.05 earnings per share. As a group, research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.50%. ConocoPhillips’s dividend payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. Morgan Stanley lifted their price target on ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price target on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 14th. Citigroup lowered their price objective on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Scotiabank decreased their price target on ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.30.

Insiders Place Their Bets

In other news, EVP Kirk L. Johnson bought 5,300 shares of ConocoPhillips stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $94.24 per share, for a total transaction of $499,472.00. Following the acquisition, the executive vice president now owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

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.