Stock Yards Bank & Trust Co. Sells 1,954 Shares of ConocoPhillips (NYSE:COP)

Stock Yards Bank & Trust Co. decreased its stake in shares of ConocoPhillips (NYSE:COP) by 5.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,676 shares of the energy producer’s stock after selling 1,954 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $3,642,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Azzad Asset Management Inc. ADV increased its position in shares of ConocoPhillips by 2.4% during the first quarter. Azzad Asset Management Inc. ADV now owns 37,610 shares of the energy producer’s stock worth $3,950,000 after acquiring an additional 869 shares in the last quarter. Hickory Asset Management Inc. lifted its stake in ConocoPhillips by 15.4% in the 1st quarter. Hickory Asset Management Inc. now owns 3,837 shares of the energy producer’s stock valued at $403,000 after acquiring an additional 512 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in ConocoPhillips by 83.0% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 18,060 shares of the energy producer’s stock valued at $1,897,000 after acquiring an additional 8,189 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in ConocoPhillips by 5.6% in the 1st quarter. Everhart Financial Group Inc. now owns 5,259 shares of the energy producer’s stock valued at $552,000 after acquiring an additional 280 shares in the last quarter. Finally, Marshall Financial Group LLC bought a new stake in ConocoPhillips in the 1st quarter valued at approximately $204,000. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James restated an “outperform” rating and set a $109.00 target price (up from $103.00) on shares of ConocoPhillips in a report on Tuesday, May 20th. Piper Sandler lowered their target price on shares of ConocoPhillips from $114.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Susquehanna lowered their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating on the stock in a report on Monday, May 12th. Morgan Stanley boosted their target price on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company dropped their price target on ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.30.

ConocoPhillips Stock Up 2.4%

COP stock opened at $97.00 on Friday. The stock has a market capitalization of $122.63 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 0.79 and a beta of 0.61. ConocoPhillips has a fifty-two week low of $79.88 and a fifty-two week high of $118.40. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The business’s fifty day moving average price is $88.91 and its two-hundred day moving average price is $95.95.

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

ConocoPhillips Dividend Announcement

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

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.