ConocoPhillips (NYSE:COP) Position Increased by WASHINGTON TRUST Co

WASHINGTON TRUST Co increased its position in shares of ConocoPhillips (NYSE:COP) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,894 shares of the energy producer’s stock after acquiring an additional 113 shares during the period. WASHINGTON TRUST Co’s holdings in ConocoPhillips were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bayesian Capital Management LP purchased a new stake in shares of ConocoPhillips during the second quarter worth $5,592,000. Guidance Capital Inc. acquired a new stake in ConocoPhillips during the second quarter worth about $599,000. Bollard Group LLC grew its position in ConocoPhillips by 1.0% during the second quarter. Bollard Group LLC now owns 130,043 shares of the energy producer’s stock worth $13,474,000 after buying an additional 1,233 shares in the last quarter. Capital Investment Counsel Inc acquired a new stake in ConocoPhillips during the third quarter worth about $228,000. Finally, Columbia Trust Co 01012016 grew its position in ConocoPhillips by 1.2% during the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

Shares of COP stock traded up $0.81 on Thursday, reaching $127.65. The stock had a trading volume of 1,750,152 shares, compared to its average volume of 5,727,014. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $113.49 and its two-hundred day moving average is $116.01. The firm has a market capitalization of $150.17 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 2.87 and a beta of 1.23. ConocoPhillips has a 12 month low of $95.70 and a 12 month high of $128.64.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the firm earned $2.71 EPS. On average, research analysts expect that ConocoPhillips will post 8.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were paid a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.44%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 25.61%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Susquehanna lowered their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating for the company in a report on Friday, January 26th. Piper Sandler lowered their target price on shares of ConocoPhillips from $139.00 to $133.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. UBS Group lifted their target price on shares of ConocoPhillips from $138.00 to $143.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their target price on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a report on Friday, December 8th. Finally, Scotiabank boosted their price target on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.12.

Insider Activity at ConocoPhillips

In related news, SVP Heather G. Hrap sold 4,548 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $110.55, for a total value of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the transaction, the executive vice president now owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Heather G. Hrap sold 4,548 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $110.55, for a total transaction of $502,781.40. Following the transaction, the senior vice president now owns 2,654 shares in the company, valued at approximately $293,399.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. Insiders own 0.37% of the company’s stock.

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.