Stock Yards Bank & Trust Co. Boosts Stake in ConocoPhillips $COP

Stock Yards Bank & Trust Co. boosted its stake in shares of ConocoPhillips (NYSE:COP) by 11.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,489 shares of the energy producer’s stock after buying an additional 3,813 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $3,454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock valued at $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of ConocoPhillips by 1.4% during the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock valued at $3,319,746,000 after purchasing an additional 437,709 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock valued at $942,297,000 after purchasing an additional 2,080,625 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 15.1% during the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock valued at $861,490,000 after purchasing an additional 1,073,906 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter valued at $658,981,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $94.17 on Friday. The business’s 50-day moving average is $94.92 and its two-hundred day moving average is $92.91. The company has a market capitalization of $117.61 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $116.08.

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

ConocoPhillips Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on COP shares. Scotiabank increased their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Raymond James Financial cut their target price on ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a research report on Monday, September 8th. Royal Bank Of Canada cut their target price on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research report on Friday, July 11th. UBS Group upped their target price on ConocoPhillips from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, September 20th. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.14.

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.