First National Bank of Hutchinson Lowers Holdings in ConocoPhillips (NYSE:COP)

First National Bank of Hutchinson reduced its stake in ConocoPhillips (NYSE:COP) by 17.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,684 shares of the energy producer’s stock after selling 2,032 shares during the period. First National Bank of Hutchinson’s holdings in ConocoPhillips were worth $1,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. First Trust Direct Indexing L.P. increased its stake in ConocoPhillips by 5.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock valued at $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $30,021,000. EP Wealth Advisors LLC raised its holdings in ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock worth $3,640,000 after acquiring an additional 4,578 shares during the last quarter. Norden Group LLC lifted its position in ConocoPhillips by 2,634.9% in the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer’s stock valued at $15,838,000 after acquiring an additional 119,890 shares in the last quarter. Finally, Alpha DNA Investment Management LLC increased its holdings in shares of ConocoPhillips by 83.8% in the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer’s stock worth $1,879,000 after purchasing an additional 7,490 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of research analyst reports. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. BMO Capital Markets boosted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. StockNews.com downgraded shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research started coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Trading Down 0.5 %

ConocoPhillips stock opened at $104.49 on Thursday. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The firm has a market capitalization of $121.34 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 0.85 and a beta of 1.21. The firm has a 50 day moving average of $108.74 and a 200 day moving average of $114.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm had revenue of $14.14 billion during the quarter, compared to analysts’ expectations of $14.96 billion. During the same period in the prior year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. ConocoPhillips’s payout ratio is 25.86%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Profile

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.