FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.93 Million Position in ConocoPhillips (NYSE:COP)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its stake in shares of ConocoPhillips (NYSE:COP) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,460 shares of the energy producer’s stock after selling 123 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in ConocoPhillips were worth $1,930,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Cypress Capital Group increased its position in shares of ConocoPhillips by 0.5% in the third quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares during the period. Aprio Wealth Management LLC grew its stake in ConocoPhillips by 4.8% during the third quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock worth $224,000 after buying an additional 97 shares in the last quarter. Godshalk Welsh Capital Management Inc. increased its holdings in ConocoPhillips by 1.2% in the 2nd quarter. Godshalk Welsh Capital Management Inc. now owns 8,751 shares of the energy producer’s stock valued at $1,001,000 after buying an additional 100 shares during the period. Smithfield Trust Co raised its position in shares of ConocoPhillips by 3.3% in the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock valued at $332,000 after buying an additional 100 shares in the last quarter. Finally, Ignite Planners LLC lifted its holdings in shares of ConocoPhillips by 1.0% during the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock worth $1,053,000 after acquiring an additional 102 shares during the period. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

Shares of COP opened at $105.76 on Friday. The company has a market capitalization of $121.72 billion, a PE ratio of 12.58, a PEG ratio of 0.81 and a beta of 1.19. The stock’s 50-day moving average price is $103.91 and its two-hundred day moving average price is $107.53. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12 month low of $94.23 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 earnings per share. On average, analysts anticipate that ConocoPhillips will post 7.7 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating on the stock in a research note on Tuesday. TD Cowen assumed coverage on ConocoPhillips in a research note on Friday. They issued a “buy” rating and a $125.00 price target on the stock. Morgan Stanley initiated coverage on ConocoPhillips in a research report on Monday, December 16th. They set an “overweight” rating and a $128.00 price objective for the company. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Finally, Evercore ISI reissued an “outperform” rating and set a $165.00 target price on shares of ConocoPhillips in a research note on Friday, December 6th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $136.00.

Insider Activity at ConocoPhillips

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

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.