8,827 Shares of ConocoPhillips $COP Bought by Ashurst Perkins Coie Trust Co

Ashurst Perkins Coie Trust Co purchased a new stake in ConocoPhillips (NYSE:COP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,827 shares of the energy producer’s stock, valued at approximately $1,105,000.

A number of other hedge funds have also recently bought and sold shares of COP. B. Metzler seel. Sohn & Co. AG bought a new stake in ConocoPhillips in the second quarter valued at about $6,896,000. Cetera Trust Company N.A bought a new position in ConocoPhillips during the 2nd quarter worth approximately $870,000. Qsemble Capital Management LP acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $3,645,000. Nicholas Investment Partners LP acquired a new position in shares of ConocoPhillips in the 2nd quarter worth approximately $6,498,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $1,475,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COP. Royal Bank Of Canada set a $130.00 price target on ConocoPhillips in a research report on Monday, June 22nd. Raymond James Financial restated an “underperform” rating and set a $168.00 price objective on shares of ConocoPhillips in a research note on Monday, August 24th. Wall Street Zen raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Wells Fargo & Company boosted their target price on shares of ConocoPhillips from $183.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Morgan Stanley boosted their target price on shares of ConocoPhillips from $147.00 to $151.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $143.29.

Insider Transactions at ConocoPhillips

In other news, SVP Andrew Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the transaction, the senior vice president owned 9,593 shares of the company’s stock, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

ConocoPhillips Stock Up 1.0%

Shares of ConocoPhillips stock opened at $142.34 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The business’s 50 day simple moving average is $131.03 and its 200-day simple moving average is $122.22. The stock has a market capitalization of $171.00 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 1.44 and a beta of 0.24. ConocoPhillips has a twelve month low of $85.57 and a twelve month high of $142.55.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.42 EPS. Equities research analysts forecast that ConocoPhillips will post 10.84 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, August 17th. ConocoPhillips’s dividend payout ratio (DPR) is presently 44.44%.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing crude oil, natural gas, natural gas liquids and liquefied natural gas. Unlike integrated energy companies, ConocoPhillips focuses primarily on upstream activities rather than refining and retail fuel operations.

The company has a diversified portfolio of assets in major producing regions, including the United States, Canada, Australia, Norway and Qatar. Its U.S. operations include oil and gas developments in Alaska and the Lower 48 states, while its international portfolio includes conventional and offshore projects.