ConocoPhillips $COP Shares Purchased by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN boosted its stake in shares of ConocoPhillips (NYSE:COP) by 487.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,808 shares of the energy producer’s stock after purchasing an additional 1,500 shares during the period. Horizon Bancorp Inc. IN’s holdings in ConocoPhillips were worth $162,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tritonpoint Wealth LLC grew its stake in shares of ConocoPhillips by 1.3% in the 2nd quarter. Tritonpoint Wealth LLC now owns 8,329 shares of the energy producer’s stock worth $747,000 after purchasing an additional 110 shares during the last quarter. Iowa State Bank grew its stake in shares of ConocoPhillips by 0.5% in the 2nd quarter. Iowa State Bank now owns 22,193 shares of the energy producer’s stock worth $1,992,000 after purchasing an additional 110 shares during the last quarter. First National Bank Sioux Falls grew its stake in shares of ConocoPhillips by 4.6% in the 2nd quarter. First National Bank Sioux Falls now owns 2,572 shares of the energy producer’s stock worth $231,000 after purchasing an additional 113 shares during the last quarter. KLCM Advisors Inc. grew its stake in shares of ConocoPhillips by 2.6% in the 1st quarter. KLCM Advisors Inc. now owns 4,503 shares of the energy producer’s stock worth $473,000 after purchasing an additional 115 shares during the last quarter. Finally, Fairvoy Private Wealth LLC grew its stake in shares of ConocoPhillips by 3.5% in the 2nd quarter. Fairvoy Private Wealth LLC now owns 3,500 shares of the energy producer’s stock worth $314,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $91.94 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The company has a 50-day moving average of $94.70 and a two-hundred day moving average of $92.69. The stock has a market cap of $114.83 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 2.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.27 and a quick ratio of 1.10.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 7th. The energy producer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.36 by $0.06. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. The company had revenue of $14.94 billion during the quarter, compared to analysts’ expectations of $14.39 billion. During the same period last year, the company posted $1.98 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, August 18th. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

Analysts Set New Price Targets

COP has been the topic of several recent research reports. Evercore ISI lowered their price objective on shares of ConocoPhillips from $115.00 to $111.00 and set an “outperform” rating on the stock in a research note on Monday. Royal Bank Of Canada lowered their price objective on shares of ConocoPhillips from $115.00 to $113.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $117.00 price objective (up previously from $113.00) on shares of ConocoPhillips in a research note on Thursday, June 26th. Susquehanna lowered their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating on the stock in a research note on Wednesday, July 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of ConocoPhillips in a report on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.23.

ConocoPhillips Company 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.