ConocoPhillips (NYSE:COP) Shares Sold by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its stake in shares of ConocoPhillips (NYSE:COP) by 3.4% in the first quarter, Holdings Channel.com reports. The fund owned 18,798 shares of the energy producer’s stock after selling 662 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in ConocoPhillips were worth $1,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brown Miller Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 1st quarter valued at $240,000. Cyndeo Wealth Partners LLC lifted its position in shares of ConocoPhillips by 2.6% during the 1st quarter. Cyndeo Wealth Partners LLC now owns 6,816 shares of the energy producer’s stock valued at $716,000 after acquiring an additional 173 shares during the last quarter. Fortis Advisors LLC lifted its position in shares of ConocoPhillips by 11.5% during the 1st quarter. Fortis Advisors LLC now owns 3,875 shares of the energy producer’s stock valued at $407,000 after acquiring an additional 400 shares during the last quarter. Brighton Jones LLC lifted its position in shares of ConocoPhillips by 26.7% during the 1st quarter. Brighton Jones LLC now owns 13,176 shares of the energy producer’s stock valued at $1,384,000 after acquiring an additional 2,779 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of ConocoPhillips by 1,666.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 141,703 shares of the energy producer’s stock valued at $14,882,000 after acquiring an additional 133,680 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.4%

NYSE COP opened at $97.00 on Monday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $118.40. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $122.63 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The firm’s fifty day simple moving average is $88.91 and its 200-day simple moving average is $95.79.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, topping the consensus estimate of $2.05 by $0.04. The firm had revenue of $16.18 billion for the quarter, compared to the consensus estimate of $15.74 billion. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. During the same period in the prior year, the business posted $2.05 earnings per share. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.22%. The ex-dividend date was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on COP. UBS Group reduced their target price on ConocoPhillips from $116.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Citigroup reduced their target price on ConocoPhillips from $140.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, June 11th. Wells Fargo & Company reduced their target price on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a report on Wednesday, May 14th. Raymond James restated an “outperform” rating and issued a $109.00 target price (up previously from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Finally, Morgan Stanley increased their target price on ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.30.

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.