Whittier Trust Co. of Nevada Inc. Has $19.45 Million Holdings in ConocoPhillips $COP

Whittier Trust Co. of Nevada Inc. increased its holdings in shares of ConocoPhillips (NYSE:COP) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,784 shares of the energy producer’s stock after acquiring an additional 10,896 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in ConocoPhillips were worth $19,454,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC increased its stake in shares of ConocoPhillips by 8.7% in the 3rd quarter. Natixis Advisors LLC now owns 1,996,426 shares of the energy producer’s stock valued at $188,842,000 after acquiring an additional 160,410 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of ConocoPhillips by 31.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 86,171 shares of the energy producer’s stock valued at $8,067,000 after acquiring an additional 20,501 shares during the period. D.A. Davidson & CO. boosted its stake in ConocoPhillips by 10.5% during the 4th quarter. D.A. Davidson & CO. now owns 155,662 shares of the energy producer’s stock worth $14,572,000 after acquiring an additional 14,833 shares during the last quarter. Van ECK Associates Corp boosted its stake in ConocoPhillips by 7.9% during the 3rd quarter. Van ECK Associates Corp now owns 195,110 shares of the energy producer’s stock worth $18,455,000 after acquiring an additional 14,245 shares during the last quarter. Finally, Czech National Bank grew its holdings in ConocoPhillips by 2.7% during the fourth quarter. Czech National Bank now owns 325,841 shares of the energy producer’s stock valued at $30,502,000 after purchasing an additional 8,635 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BMO Capital Markets cut their target price on shares of ConocoPhillips from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of ConocoPhillips in a report on Wednesday, June 3rd. Scotiabank upped their price objective on shares of ConocoPhillips from $100.00 to $125.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Argus upped their price objective on shares of ConocoPhillips from $128.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Barclays raised their price objective on ConocoPhillips from $136.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $134.76.

ConocoPhillips Stock Performance

Shares of COP stock opened at $104.64 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.14 and a current ratio of 1.29. The company has a market capitalization of $127.48 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.20 and a beta of 0.12. The company’s 50 day moving average price is $115.76 and its two-hundred day moving average price is $112.25. ConocoPhillips has a 52 week low of $85.57 and a 52 week high of $135.87.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, April 30th. The energy producer reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.17. The firm had revenue of $15.76 billion for the quarter, compared to analyst estimates of $15.62 billion. ConocoPhillips had a net margin of 12.10% and a return on equity of 11.39%. The business’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. On average, analysts expect that ConocoPhillips will post 9.66 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 11th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, May 11th. ConocoPhillips’s payout ratio is currently 57.05%.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.