Heartland Bank & Trust Co Acquires 3,381 Shares of ConocoPhillips $COP

Key Points

• Heartland Bank & Trust Co increased its holdings in ConocoPhillips by 97.2%, acquiring an additional 3,381 shares during the second quarter, bringing its total to 6,861 shares valued at $616,000.
• Several institutional investors have also recently increased their stakes in ConocoPhillips, with institutional ownership now at 82.36% of the company's stock.
• The company reported earnings of $1.42 per share for the quarter, exceeding analyst expectations, along with a recent quarterly dividend of $0.78 per share, yielding 3.5%.

Heartland Bank & Trust Co grew its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 97.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,861 shares of the energy producer's stock after purchasing an additional 3,381 shares during the quarter. Heartland Bank & Trust Co's holdings in ConocoPhillips were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Financial Network Wealth Advisors LLC raised its holdings in ConocoPhillips by 341.5% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer's stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC bought a new position in ConocoPhillips in the 1st quarter worth $31,000. Garde Capital Inc. bought a new position in ConocoPhillips in the 1st quarter worth $35,000. IMA Advisory Services Inc. bought a new position in ConocoPhillips in the 1st quarter worth $37,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in ConocoPhillips by 418.6% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer's stock worth $38,000 after acquiring an additional 293 shares during the period. Institutional investors own 82.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on COP shares. Susquehanna dropped their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley restated an "overweight" rating and set a $123.00 price objective (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Mizuho dropped their price objective on shares of ConocoPhillips from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Monday, September 15th. Finally, Melius Research started coverage on shares of ConocoPhillips in a report on Wednesday, August 20th. They set a "hold" rating and a $117.00 price objective on the stock. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $117.65.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock opened at $88.77 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27. The firm's 50-day simple moving average is $94.52 and its 200-day simple moving average is $92.35. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38. The firm has a market cap of $110.87 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.62.

ConocoPhillips (NYSE:COP - Get Free Report) last issued its earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share 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 period in the previous year, the business earned $1.98 EPS. The firm's revenue was up 4.3% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 dividend on an annualized basis and a yield of 3.5%. ConocoPhillips's payout ratio is 41.88%.

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.

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