8,298 Shares in ConocoPhillips $COP Acquired by First Interstate Bank

First Interstate Bank bought a new stake in ConocoPhillips (NYSE:COP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,298 shares of the energy producer’s stock, valued at approximately $785,000.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in ConocoPhillips by 0.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 40,382,724 shares of the energy producer’s stock valued at $3,623,946,000 after buying an additional 287,970 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of ConocoPhillips by 1.6% in the 2nd quarter. Fisher Asset Management LLC now owns 14,393,875 shares of the energy producer’s stock valued at $1,291,706,000 after acquiring an additional 224,201 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of ConocoPhillips by 31.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock worth $966,267,000 after acquiring an additional 2,575,803 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of ConocoPhillips by 66.0% in the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock worth $707,461,000 after acquiring an additional 3,135,315 shares during the last quarter. Finally, Boston Partners boosted its position in shares of ConocoPhillips by 4.0% during the 2nd quarter. Boston Partners now owns 6,424,232 shares of the energy producer’s stock worth $577,471,000 after purchasing an additional 244,810 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on COP. JPMorgan Chase & Co. restated a “neutral” rating and set a $98.00 price target on shares of ConocoPhillips in a research note on Tuesday. Capital One Financial decreased their target price on ConocoPhillips from $112.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Wolfe Research lowered their target price on ConocoPhillips from $126.00 to $122.00 and set an “outperform” rating for the company in a report on Tuesday, January 13th. Morgan Stanley cut their price target on shares of ConocoPhillips from $122.00 to $117.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Finally, Bank of America reissued an “underperform” rating and set a $102.00 price target on shares of ConocoPhillips in a research report on Friday, January 16th. Sixteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.83.

Insiders Place Their Bets

In other news, Director William H. Mcraven bought 5,768 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director owned 5,768 shares in the company, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of the firm’s 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 completion of the sale, the chief executive officer owned 325,972 shares in the company, valued at approximately $30,152,410. This represents a 60.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.24% of the company’s stock.

ConocoPhillips Price Performance

COP stock opened at $95.44 on Wednesday. The business’s 50-day moving average is $92.95 and its two-hundred day moving average is $92.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.32 and a quick ratio of 1.18. The firm has a market capitalization of $117.93 billion, a P/E ratio of 13.50, a P/E/G ratio of 2.73 and a beta of 0.32. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $106.20.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. 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 was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a dividend of $0.84 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. 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%. ConocoPhillips’s dividend payout ratio is presently 47.52%.

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.