Arbor Trust Wealth Advisors LLC Sells 1,594 Shares of ConocoPhillips $COP

Arbor Trust Wealth Advisors LLC lessened its holdings in shares of ConocoPhillips (NYSE:COP) by 25.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,628 shares of the energy producer’s stock after selling 1,594 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in ConocoPhillips were worth $415,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of COP. Bogart Wealth LLC lifted its holdings in ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the period. Activest Wealth Management raised its position in shares of ConocoPhillips by 249.5% during the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after acquiring an additional 232 shares during the last quarter. Financial Network Wealth Advisors LLC lifted its stake in shares of ConocoPhillips by 341.5% in the first quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock worth $30,000 after acquiring an additional 222 shares during the period. Stone House Investment Management LLC acquired a new position in shares of ConocoPhillips in the first quarter worth approximately $31,000. Finally, IMA Advisory Services Inc. bought a new stake in ConocoPhillips in the first quarter valued at approximately $37,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

Shares of NYSE COP opened at $86.82 on Friday. The firm has a market capitalization of $108.43 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.36 and a beta of 0.58. The firm’s 50-day moving average price is $91.58 and its 200-day moving average price is $92.00. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $115.38.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a return on equity of 14.60% and a net margin of 15.26%.The business had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same period in the previous year, the company posted $1.78 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 41.88%.

Analyst Ratings Changes

Several research analysts have issued reports on COP shares. Wells Fargo & Company initiated coverage on shares of ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price target for the company. Melius Research assumed coverage on shares of ConocoPhillips in a research report on Wednesday, August 20th. They set a “hold” rating and a $117.00 price objective for the company. Capital One Financial lifted their target price on shares of ConocoPhillips from $111.00 to $112.00 in a research note on Friday, October 3rd. Wolfe Research restated an “outperform” rating and issued a $131.00 target price on shares of ConocoPhillips in a report on Thursday. Finally, Morgan Stanley decreased their price target on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Eighteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $114.54.

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.