ConocoPhillips $COP Stake Increased by Charles Schwab Trust Co

Charles Schwab Trust Co lifted its stake in ConocoPhillips (NYSE:COP) by 76.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,349 shares of the energy producer’s stock after purchasing an additional 6,210 shares during the period. Charles Schwab Trust Co’s holdings in ConocoPhillips were worth $1,796,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in COP. Frazier Financial Advisors LLC increased its holdings in ConocoPhillips by 151.0% in the first quarter. Frazier Financial Advisors LLC now owns 241 shares of the energy producer’s stock valued at $32,000 after buying an additional 145 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at approximately $25,000. Ballast Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $36,000. Evergreen Advisors LLC purchased a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $36,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $0.03 during trading on Thursday, hitting $142.31. 2,444,292 shares of the company were exchanged, compared to its average volume of 8,044,229. ConocoPhillips has a fifty-two week low of $85.57 and a fifty-two week high of $143.13. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average price of $131.03 and a 200 day moving average price of $122.22. The stock has a market capitalization of $170.96 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 1.44 and a beta of 0.24.

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

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s dividend payout ratio is currently 44.44%.

Insider Activity

In other news, SVP Andrew Lundquist sold 9,487 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares in the company, valued at $1,296,493.95. This trade represents a 49.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

COP has been the subject of several research analyst reports. Weiss Ratings raised ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 29th. Mizuho decreased their target price on ConocoPhillips from $150.00 to $146.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. The Goldman Sachs Group lowered their target price on ConocoPhillips from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Argus raised their price target on ConocoPhillips from $136.00 to $153.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $183.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus price target of $143.62.

ConocoPhillips Company 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.