Arvest Bank Trust Division Trims Holdings in ConocoPhillips $COP

Arvest Bank Trust Division trimmed its holdings in ConocoPhillips (NYSE:COP) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,807 shares of the energy producer’s stock after selling 9,800 shares during the quarter. Arvest Bank Trust Division’s holdings in ConocoPhillips were worth $8,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Aberdeen Group plc raised its holdings in ConocoPhillips by 49.3% in the 1st quarter. Aberdeen Group plc now owns 801,426 shares of the energy producer’s stock worth $83,969,000 after acquiring an additional 264,726 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of ConocoPhillips by 17.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 154,360 shares of the energy producer’s stock worth $13,927,000 after purchasing an additional 22,827 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of ConocoPhillips by 2.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,395,546 shares of the energy producer’s stock worth $304,716,000 after purchasing an additional 78,642 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new position in shares of ConocoPhillips during the second quarter valued at $1,264,000. Finally, Focus Partners Wealth lifted its holdings in shares of ConocoPhillips by 36.2% during the first quarter. Focus Partners Wealth now owns 128,601 shares of the energy producer’s stock valued at $13,506,000 after purchasing an additional 34,195 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on COP shares. Melius started coverage on ConocoPhillips in a report on Wednesday, August 20th. They issued a “hold” rating and a $117.00 price objective for the company. Roth Capital reduced their price target on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Wells Fargo & Company started coverage on shares of ConocoPhillips in a research report on Friday, October 17th. They set an “equal weight” rating and a $100.00 price objective on the stock. Raymond James Financial dropped their target price on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, September 8th. Finally, Barclays decreased their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Tuesday, October 7th. Eighteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $115.33.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $89.38 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $115.38. The firm has a market capitalization of $110.45 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $90.96 and a 200 day moving average of $91.94.

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

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. ConocoPhillips’s dividend payout ratio is presently 47.52%.

Insider Buying and Selling

In related news, Director William H. Mcraven acquired 5,768 shares of the firm’s stock in a transaction dated Monday, November 10th. The shares were purchased at an average price of $86.68 per share, with a total value of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares of the company’s stock, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

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.