Legacy Private Trust Co. Sells 1,529 Shares of ConocoPhillips (NYSE:COP)

Legacy Private Trust Co. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 55,211 shares of the energy producer’s stock after selling 1,529 shares during the quarter. Legacy Private Trust Co.’s holdings in ConocoPhillips were worth $5,475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter worth approximately $26,000. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the third quarter worth $31,000. Truvestments Capital LLC bought a new stake in shares of ConocoPhillips during the third quarter worth $31,000. Global Wealth Strategies & Associates boosted its stake in shares of ConocoPhillips by 80.5% during the fourth quarter. Global Wealth Strategies & Associates now owns 343 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 153 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter worth about $35,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COP. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Susquehanna boosted their price target on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a report on Friday, November 1st. Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a report on Friday, December 6th. Barclays lifted their target price on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $136.71.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were acquired at an average price of $95.87 per share, with a total value of $239,675.00. Following the completion of the purchase, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This trade represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Stock Down 0.2 %

NYSE COP traded down $0.19 on Wednesday, hitting $101.48. The stock had a trading volume of 5,117,096 shares, compared to its average volume of 5,393,320. The business’s fifty day moving average price is $104.70 and its 200 day moving average price is $107.97. The stock has a market cap of $116.79 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.83 and a beta of 1.19. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 52-week low of $94.23 and a 52-week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the previous year, the business earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities research analysts anticipate that ConocoPhillips will post 7.77 earnings per share for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.07%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

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.