FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.05 Million Position in ConocoPhillips $COP

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lowered its holdings in ConocoPhillips (NYSE:COP) by 35.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,083 shares of the energy producer’s stock after selling 6,189 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in ConocoPhillips were worth $1,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Apella Capital LLC grew its stake in ConocoPhillips by 1.9% during the 2nd quarter. Apella Capital LLC now owns 7,707 shares of the energy producer’s stock valued at $713,000 after acquiring an additional 141 shares in the last quarter. Everpar Advisors LLC grew its position in ConocoPhillips by 138.7% during the second quarter. Everpar Advisors LLC now owns 10,413 shares of the energy producer’s stock valued at $934,000 after purchasing an additional 6,051 shares in the last quarter. FF Advisors LLC increased its stake in ConocoPhillips by 12.8% in the 2nd quarter. FF Advisors LLC now owns 2,678 shares of the energy producer’s stock valued at $240,000 after buying an additional 303 shares during the period. Range Financial Group LLC lifted its position in ConocoPhillips by 7.8% in the 2nd quarter. Range Financial Group LLC now owns 3,538 shares of the energy producer’s stock worth $318,000 after buying an additional 256 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of ConocoPhillips by 4.8% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 63,098 shares of the energy producer’s stock valued at $5,662,000 after buying an additional 2,918 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Monday, October 13th. The Goldman Sachs Group dropped their target price on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. JPMorgan Chase & Co. cut their price target on ConocoPhillips from $102.00 to $98.00 and set an “overweight” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price target on ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating for the company in a research note on Thursday, November 20th. Finally, Capital One Financial increased their price objective on ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Eighteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $111.76.

ConocoPhillips Stock Performance

Shares of NYSE COP opened at $96.43 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The firm has a market cap of $119.16 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 2.59 and a beta of 0.32. The business’s 50-day simple moving average is $91.91 and its 200-day simple moving average is $92.75. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20.

ConocoPhillips (NYSE:COP) last posted its 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 return on equity of 13.64% and a net margin of 14.25%.The firm 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 earned $1.78 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts expect 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 was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

Insider Buying and Selling at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction on Friday, December 19th. The shares were sold at an average price of $92.50, for a total value of $46,315,490.00. Following the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This trade represents a 60.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William H. Mcraven bought 5,768 shares of the business’s stock in a transaction on Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the transaction, the director owned 5,768 shares in the company, valued at approximately $499,970.24. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Profile

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.