First National Trust Co Increases Stake in ConocoPhillips $COP

First National Trust Co lifted its stake in ConocoPhillips (NYSE:COP) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,113 shares of the energy producer’s stock after purchasing an additional 670 shares during the quarter. First National Trust Co’s holdings in ConocoPhillips were worth $5,215,000 as of its most recent SEC filing.

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

ConocoPhillips Price Performance

Shares of NYSE COP opened at $88.71 on Tuesday. The firm has a market cap of $110.79 billion, a PE ratio of 11.91, a PEG ratio of 2.35 and a beta of 0.62. The firm has a fifty day moving average of $93.22 and a 200 day moving average of $91.96. 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 one year low of $79.88 and a one year high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. The company had revenue of $14.94 billion during the quarter, compared to analyst estimates of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. As a group, research 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 paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is currently 41.88%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on COP shares. UBS Group reduced their price objective on ConocoPhillips from $124.00 to $122.00 and set a “buy” rating for the company in a research note on Monday, October 13th. BMO Capital Markets raised their price target on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, October 13th. Piper Sandler reduced their price target on shares of ConocoPhillips from $124.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 13th. Raymond James Financial reduced their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a report on Monday, September 8th. Finally, Mizuho reduced their target price on shares of ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Eighteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.63.

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.