Diversified Trust Co Sells 239 Shares of ConocoPhillips (NYSE:COP)

Diversified Trust Co trimmed its stake in ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,888 shares of the energy producer’s stock after selling 239 shares during the period. Diversified Trust Co’s holdings in ConocoPhillips were worth $1,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the 4th quarter worth approximately $27,000. Stephens Consulting LLC lifted its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Richardson Capital Management LLC bought a new stake in shares of ConocoPhillips during the 1st quarter worth approximately $31,000. Northwest Bank & Trust Co bought a new stake in ConocoPhillips during the 4th quarter valued at $32,000. Finally, Ruedi Wealth Management Inc. raised its position in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

NYSE:COP opened at $110.80 on Wednesday. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The stock has a 50 day moving average of $108.88 and a two-hundred day moving average of $115.88. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The firm has a market cap of $129.58 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping the consensus estimate of $1.96 by $0.02. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company had revenue of $14.14 billion during the quarter, compared to analyst estimates of $14.96 billion. During the same period in the previous year, the business earned $1.84 EPS. ConocoPhillips’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts expect that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.09%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COP. Wells Fargo & Company decreased their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. Susquehanna cut their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America reiterated a “buy” rating and issued a $147.00 price target on shares of ConocoPhillips in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, ConocoPhillips currently has an average rating of “Moderate Buy” and a consensus target price of $138.29.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Company 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.