ConocoPhillips (NYSE:COP) Shares Sold by Arvest Trust Co. N A

Arvest Trust Co. N A cut its holdings in shares of ConocoPhillips (NYSE:COP) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,016 shares of the energy producer’s stock after selling 16,053 shares during the quarter. Arvest Trust Co. N A’s holdings in ConocoPhillips were worth $13,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors grew its position in ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. Bank of New York Mellon Corp increased its stake in ConocoPhillips by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after acquiring an additional 826,529 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of ConocoPhillips by 2.7% in the 4th quarter. Fisher Asset Management LLC now owns 7,412,753 shares of the energy producer’s stock valued at $860,398,000 after purchasing an additional 191,519 shares in the last quarter. Finally, Putnam Investments LLC lifted its stake in shares of ConocoPhillips by 3.6% in the 4th quarter. Putnam Investments LLC now owns 6,079,041 shares of the energy producer’s stock valued at $705,594,000 after purchasing an additional 211,257 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

Shares of COP stock opened at $105.56 on Tuesday. The stock has a market capitalization of $122.58 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.78 and a beta of 1.22. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company’s 50-day simple moving average is $110.03 and its 200-day simple moving average is $116.69. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. Equities analysts anticipate that ConocoPhillips will post 8.41 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Sanford C. Bernstein dropped their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Mizuho cut their target price on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday. Raymond James reaffirmed a “strong-buy” rating and set a $159.00 price target (up from $155.00) on shares of ConocoPhillips in a research report on Thursday, May 30th. Argus upgraded ConocoPhillips to a “strong-buy” rating in a report on Friday, June 7th. Finally, Wells Fargo & Company reduced their price objective on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.06.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

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.