Ashurst Perkins Coie Trust Co Acquires 8,827 Shares of ConocoPhillips $COP

Key Points

• Ashurst Perkins Coie Trust Co. acquired 8,827 ConocoPhillips shares during the third quarter, valued at approximately $1.1 million. Institutional investors and hedge funds collectively own 82.36% of COP stock.
• ConocoPhillips reported quarterly adjusted earnings of $3.24 per share, beating estimates by $0.34, while revenue rose 32.4% year over year to $19.52 billion.
• The company pays a quarterly dividend of $0.84 per share, or $3.36 annually, representing a 2.4% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $143.29.

Ashurst Perkins Coie Trust Co bought a new position in shares of ConocoPhillips (NYSE:COP - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,827 shares of the energy producer's stock, valued at approximately $1,105,000.

Other large investors also recently bought and sold shares of the company. Patten Group Inc. raised its stake in shares of ConocoPhillips by 1.5% during the 1st quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock worth $719,000 after buying an additional 83 shares during the last quarter. IFC Advisors LLC grew its stake in ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock valued at $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. increased its holdings in ConocoPhillips by 0.4% during the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock valued at $2,791,000 after acquiring an additional 92 shares in the last quarter. Finally, Sigma Planning Corp increased its holdings in ConocoPhillips by 0.6% during the 1st quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock valued at $2,120,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company's stock.

Insider Buying and Selling at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $135.15, for a total value of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by insiders.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $142.34 on Thursday. The company has a market cap of $171.00 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.24. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $142.55. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.39. The stock's 50-day moving average is $131.03 and its 200-day moving average is $122.22.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. ConocoPhillips's revenue for the quarter was up 32.4% on a year-over-year basis. Equities analysts anticipate that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips's payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COP shares. The Goldman Sachs Group reduced their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Morgan Stanley raised their price objective on shares of ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Mizuho cut their price objective on ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating for the company in a research report on Tuesday, July 7th. Zacks Research upgraded ConocoPhillips from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised ConocoPhillips from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 29th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $143.29.

ConocoPhillips Company Profile

ConocoPhillips NYSE: COP is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.

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