First Citizens Bank & Trust Co. Increases Holdings in ConocoPhillips (NYSE:COP)

First Citizens Bank & Trust Co. boosted its position in ConocoPhillips (NYSE:COP) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,833 shares of the energy producer’s stock after buying an additional 2,894 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in ConocoPhillips were worth $9,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in ConocoPhillips in the 4th quarter worth $26,000. Centricity Wealth Management LLC bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $27,000. 10Elms LLP bought a new position in shares of ConocoPhillips during the fourth quarter valued at about $28,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the fourth quarter worth about $32,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of ConocoPhillips in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP opened at $87.18 on Monday. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The firm’s 50-day simple moving average is $88.74 and its two-hundred day simple moving average is $96.32. The stock has a market cap of $110.21 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a return on equity of 17.26% and a net margin of 16.23%. The business had revenue of $16.18 billion during the quarter, compared to analysts’ expectations of $15.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips’s payout ratio is 39.64%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Bank of America decreased their price target on ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Scotiabank decreased their target price on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Raymond James reiterated an “outperform” rating and set a $109.00 price target (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Barclays cut their price target on shares of ConocoPhillips from $135.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley boosted their price objective on shares of ConocoPhillips from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $121.63.

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.