Argent Trust Co Has $7.63 Million Stake in ConocoPhillips (NYSE:COP)

Argent Trust Co grew its position in ConocoPhillips (NYSE:COP) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,638 shares of the energy producer’s stock after purchasing an additional 2,597 shares during the quarter. Argent Trust Co’s holdings in ConocoPhillips were worth $7,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Second Line Capital LLC boosted its holdings in shares of ConocoPhillips by 2.2% in the 4th quarter. Second Line Capital LLC now owns 4,990 shares of the energy producer’s stock valued at $495,000 after purchasing an additional 108 shares in the last quarter. Meiji Yasuda Life Insurance Co boosted its holdings in shares of ConocoPhillips by 1.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 7,091 shares of the energy producer’s stock valued at $703,000 after acquiring an additional 110 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of ConocoPhillips by 3.6% during the 4th quarter. LRI Investments LLC now owns 3,184 shares of the energy producer’s stock valued at $316,000 after acquiring an additional 110 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in shares of ConocoPhillips by 3.9% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 3,177 shares of the energy producer’s stock valued at $334,000 after acquiring an additional 118 shares in the last quarter. Finally, Northeast Financial Consultants Inc boosted its holdings in shares of ConocoPhillips by 2.9% during the 4th quarter. Northeast Financial Consultants Inc now owns 4,361 shares of the energy producer’s stock valued at $432,000 after acquiring an additional 122 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

COP stock opened at $92.75 on Friday. The stock has a 50-day moving average price of $91.97 and a 200-day moving average price of $94.07. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $116.08. The company has a current ratio of 1.27, a quick ratio of 1.13 and a debt-to-equity ratio of 0.36. The firm has a market cap of $117.25 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.04. ConocoPhillips had a return on equity of 16.54% and a net margin of 16.02%. The firm had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period last year, the company posted $2.05 EPS. As a group, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. ConocoPhillips’s dividend payout ratio (DPR) is 39.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada cut their price objective on ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Bank of America cut their price objective on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Scotiabank raised their price objective on ConocoPhillips from $95.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, July 11th. Mizuho cut their price objective on ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Morgan Stanley reissued an “overweight” rating and set a $119.00 price objective on shares of ConocoPhillips in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $121.33.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, EVP Kirk L. Johnson acquired 5,300 shares of the stock in a transaction dated Monday, June 16th. The stock was purchased at an average cost of $94.24 per share, with a total value of $499,472.00. Following the transaction, the executive vice president owned 14,527 shares in the company, valued at approximately $1,369,024.48. The trade was a 57.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.24% 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.