BankPlus Trust Department Has $627,000 Holdings in ConocoPhillips $COP

BankPlus Trust Department increased its holdings in shares of ConocoPhillips (NYSE:COP) by 13.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 6,984 shares of the energy producer’s stock after purchasing an additional 810 shares during the period. BankPlus Trust Department’s holdings in ConocoPhillips were worth $627,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in COP. Charles Schwab Investment Management Inc. lifted its position in shares of ConocoPhillips by 379.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the last quarter. Nuveen LLC bought a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $658,981,000. AQR Capital Management LLC grew its position in ConocoPhillips by 190.5% during the 1st quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares during the last quarter. Goldman Sachs Group Inc. grew its position in ConocoPhillips by 30.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after acquiring an additional 2,080,625 shares during the last quarter. Finally, Deutsche Bank AG grew its position in ConocoPhillips by 53.8% during the 1st quarter. Deutsche Bank AG now owns 5,240,275 shares of the energy producer’s stock worth $550,334,000 after acquiring an additional 1,834,118 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Mizuho decreased their price objective on ConocoPhillips from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Royal Bank Of Canada dropped their price target on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Capital One Financial lifted their target price on ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. Melius Research began coverage on ConocoPhillips in a report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price target for the company. Finally, Wall Street Zen upgraded ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. Sixteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.23.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock opened at $95.18 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. The stock has a market cap of $118.87 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 2.51 and a beta of 0.62. The company’s fifty day moving average is $94.83 and its 200 day moving average is $92.75. ConocoPhillips has a twelve month low of $79.88 and a twelve month high of $115.38.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to analysts’ expectations of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.98 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a yield of 3.3%. ConocoPhillips’s dividend payout ratio is 41.88%.

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.