OLD Point Trust & Financial Services N A Sells 3,055 Shares of ConocoPhillips $COP

Key Points

• OLD Point Trust & Financial Services N A has reduced its stake in ConocoPhillips by 3% during the second quarter, now holding 98,264 shares valued at $8.8 million.
• ConocoPhillips reported $1.42 EPS for the recent quarter, exceeding expectations, along with a revenue of $14.94 billion, marking a 4.3% year-over-year increase.
• The company recently declared a quarterly dividend of $0.78, representing an annualized yield of 3.3%, with a payout ratio of 41.88%.

OLD Point Trust & Financial Services N A decreased its position in ConocoPhillips (NYSE:COP - Free Report) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,264 shares of the energy producer's stock after selling 3,055 shares during the period. ConocoPhillips makes up 3.1% of OLD Point Trust & Financial Services N A's holdings, making the stock its 8th biggest holding. OLD Point Trust & Financial Services N A's holdings in ConocoPhillips were worth $8,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of COP. NBC Securities Inc. raised its holdings in shares of ConocoPhillips by 114,680.0% during the first quarter. NBC Securities Inc. now owns 5,739 shares of the energy producer's stock valued at $602,000 after purchasing an additional 5,734 shares during the period. LVW Advisors LLC raised its holdings in shares of ConocoPhillips by 19.8% during the first quarter. LVW Advisors LLC now owns 2,482 shares of the energy producer's stock valued at $261,000 after purchasing an additional 410 shares during the period. Merit Financial Group LLC raised its holdings in shares of ConocoPhillips by 89.4% during the first quarter. Merit Financial Group LLC now owns 53,174 shares of the energy producer's stock valued at $5,584,000 after purchasing an additional 25,097 shares during the period. Capital Asset Advisory Services LLC raised its holdings in shares of ConocoPhillips by 3.4% during the first quarter. Capital Asset Advisory Services LLC now owns 25,323 shares of the energy producer's stock valued at $2,687,000 after purchasing an additional 833 shares during the period. Finally, RFG Advisory LLC raised its holdings in shares of ConocoPhillips by 71.0% during the first quarter. RFG Advisory LLC now owns 12,400 shares of the energy producer's stock valued at $1,302,000 after purchasing an additional 5,149 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Down 1.3%

COP opened at $94.63 on Wednesday. The company has a 50 day moving average of $94.98 and a 200 day moving average of $92.98. The company has a market cap of $118.19 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.52 and a beta of 0.69. ConocoPhillips has a 12 month low of $79.88 and a 12 month high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $1.98 EPS. On average, sell-side analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 annualized dividend and a yield of 3.3%. ConocoPhillips's dividend payout ratio (DPR) is 41.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup dropped their price objective on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Roth Capital restated a "buy" rating on shares of ConocoPhillips in a report on Wednesday, September 3rd. Morgan Stanley restated an "overweight" rating and issued a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a report on Sunday, August 10th. Wall Street Zen raised shares of ConocoPhillips from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Finally, UBS Group upped their price objective on shares of ConocoPhillips from $116.00 to $124.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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