Sanibel Captiva Trust Company Inc. Buys 13,553 Shares of ConocoPhillips (NYSE:COP)

Sanibel Captiva Trust Company Inc. lifted its stake in shares of ConocoPhillips (NYSE:COP) by 40.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,065 shares of the energy producer’s stock after purchasing an additional 13,553 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in ConocoPhillips were worth $4,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Howard Financial Services LTD. increased its holdings in ConocoPhillips by 25.7% during the fourth quarter. Howard Financial Services LTD. now owns 4,163 shares of the energy producer’s stock worth $413,000 after buying an additional 850 shares during the last quarter. Alhambra Investment Management LLC increased its stake in shares of ConocoPhillips by 38.9% during the 4th quarter. Alhambra Investment Management LLC now owns 2,815 shares of the energy producer’s stock worth $279,000 after purchasing an additional 788 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of ConocoPhillips by 50.7% during the 4th quarter. Arkadios Wealth Advisors now owns 22,257 shares of the energy producer’s stock worth $2,207,000 after purchasing an additional 7,491 shares during the last quarter. Spring Capital Management LLC raised its holdings in shares of ConocoPhillips by 11.6% in the 4th quarter. Spring Capital Management LLC now owns 2,066 shares of the energy producer’s stock valued at $205,000 after purchasing an additional 214 shares during the period. Finally, Dakota Community Bank & Trust NA lifted its stake in ConocoPhillips by 23.1% in the 4th quarter. Dakota Community Bank & Trust NA now owns 932 shares of the energy producer’s stock valued at $92,000 after purchasing an additional 175 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Trading Up 0.1 %

COP opened at $105.76 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 0.81 and a beta of 1.19. The company has a 50-day simple moving average of $103.91 and a 200 day simple moving average of $107.53.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the business posted $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts predict that ConocoPhillips will post 7.7 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on COP. Mizuho upgraded ConocoPhillips from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $132.00 to $134.00 in a research note on Monday, December 16th. BMO Capital Markets increased their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Susquehanna lifted their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Scotiabank reduced their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $136.00.

Insider Buying and Selling

In related news, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director R A. Walker bought 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the transaction, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.34% of the stock is owned by corporate insiders.

About ConocoPhillips

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.