Riverview Trust Co Trims Stock Position in ConocoPhillips $COP

Riverview Trust Co lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 38.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,405 shares of the energy producer’s stock after selling 1,498 shares during the period. Riverview Trust Co’s holdings in ConocoPhillips were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC raised its holdings in shares of ConocoPhillips by 341.5% during the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after purchasing an additional 222 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in ConocoPhillips during the first quarter valued at $31,000. Garde Capital Inc. acquired a new stake in ConocoPhillips during the first quarter valued at $35,000. IMA Advisory Services Inc. acquired a new stake in ConocoPhillips during the first quarter valued at $37,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its position in ConocoPhillips by 418.6% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COP. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, June 11th. Scotiabank raised their price target on shares of ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, July 11th. Susquehanna dropped their price target on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research report on Wednesday, July 23rd. Wells Fargo & Company restated an “overweight” rating and set a $117.00 price target (up previously from $113.00) on shares of ConocoPhillips in a research report on Thursday, June 26th. Finally, Melius began coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target on the stock. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Stock Up 0.8%

Shares of NYSE COP opened at $95.39 on Thursday. The company’s 50-day simple moving average is $94.98 and its 200-day simple moving average is $93.00. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $116.08. The firm has a market cap of $119.13 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business had revenue of $14.94 billion for the quarter, compared to analyst estimates of $14.39 billion. During the same quarter last year, the business earned $1.98 earnings per share. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts predict that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.78 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.12 annualized dividend and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is 41.88%.

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.