Midwest Trust Co Grows Stock Holdings in ConocoPhillips $COP

Midwest Trust Co grew its position in shares of ConocoPhillips (NYSE:COP) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 424,672 shares of the energy producer’s stock after acquiring an additional 18,137 shares during the period. Midwest Trust Co’s holdings in ConocoPhillips were worth $56,057,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of COP. AXA S.A. raised its holdings in shares of ConocoPhillips by 91.1% during the second quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after acquiring an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its holdings in ConocoPhillips by 6.1% in the second quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares in the last quarter. BNP Paribas bought a new stake in ConocoPhillips in the second quarter valued at $33,000. Osterweis Capital Management Inc. purchased a new position in ConocoPhillips during the 2nd quarter valued at $151,000. Finally, Main Street Financial Solutions LLC increased its position in ConocoPhillips by 53.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 1.0%

COP traded up $1.04 during midday trading on Friday, reaching $109.06. The company’s stock had a trading volume of 6,977,036 shares, compared to its average volume of 7,638,942. The firm has a market capitalization of $132.86 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 1.31 and a beta of 0.12. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 1 year low of $85.57 and a 1 year high of $135.87. The stock’s 50-day moving average is $114.15 and its 200-day moving average is $112.66.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.17. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The firm had revenue of $15.76 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same period last year, the business earned $2.09 earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. As a group, research analysts expect that ConocoPhillips will post 9.28 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 11th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is 57.05%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of ConocoPhillips from $153.00 to $146.00 and set an “overweight” rating for the company in a research report on Friday, June 26th. Scotiabank boosted their price target on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Raymond James Financial decreased their price target on shares of ConocoPhillips from $145.00 to $142.00 and set an “outperform” rating for the company in a research note on Monday, June 1st. UBS Group lowered their price objective on shares of ConocoPhillips from $155.00 to $143.00 and set a “buy” rating for the company in a report on Wednesday. Finally, BMO Capital Markets cut their price objective on ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $134.04.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.