Whittier Trust Co. Acquires 340 Shares of ConocoPhillips (NYSE:COP)

Whittier Trust Co. boosted its holdings in ConocoPhillips (NYSE:COP) by 1.7% during the fourth quarter, Holdings Channel reports. The fund owned 20,433 shares of the energy producer’s stock after purchasing an additional 340 shares during the period. Whittier Trust Co.’s holdings in ConocoPhillips were worth $2,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its position in ConocoPhillips by 3.1% during the 3rd quarter. LPL Financial LLC now owns 1,021,324 shares of the energy producer’s stock worth $107,525,000 after buying an additional 30,772 shares during the period. Thompson Siegel & Walmsley LLC increased its position in ConocoPhillips by 8.7% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,807 shares of the energy producer’s stock worth $296,000 after buying an additional 225 shares during the period. Smithfield Trust Co increased its position in ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after buying an additional 100 shares during the period. Charles Schwab Investment Management Inc. increased its position in ConocoPhillips by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer’s stock worth $747,114,000 after buying an additional 153,944 shares during the period. Finally, Eagle Asset Management Inc. increased its position in ConocoPhillips by 2.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 32,985 shares of the energy producer’s stock worth $3,681,000 after buying an additional 910 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on COP. Morgan Stanley began coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective on the stock. TD Cowen assumed coverage on ConocoPhillips in a report on Friday, January 17th. They set a “buy” rating and a $125.00 target price on the stock. Wells Fargo & Company reduced their target price on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. JPMorgan Chase & Co. reduced their target price on ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group reduced their target price on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Price Performance

Shares of COP opened at $102.05 on Friday. ConocoPhillips has a 1 year low of $86.81 and a 1 year high of $135.18. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The company has a market capitalization of $129.84 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The business has a 50-day moving average of $99.21 and a 200-day moving average of $103.45.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.20. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were issued a $0.78 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips’s payout ratio is currently 40.05%.

ConocoPhillips 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.