Heartland Bank & Trust Co Acquires 130 Shares of ConocoPhillips (NYSE:COP)

Heartland Bank & Trust Co raised its stake in shares of ConocoPhillips (NYSE:COP) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,776 shares of the energy producer’s stock after acquiring an additional 130 shares during the quarter. Heartland Bank & Trust Co’s holdings in ConocoPhillips were worth $432,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eagle Asset Management Inc. lifted its position in shares of ConocoPhillips by 0.7% during the fourth quarter. Eagle Asset Management Inc. now owns 30,912 shares of the energy producer’s stock valued at $3,588,000 after buying an additional 208 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of ConocoPhillips by 4.4% during the 4th quarter. Jones Financial Companies Lllp now owns 8,170 shares of the energy producer’s stock worth $948,000 after acquiring an additional 348 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in ConocoPhillips by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,215,678 shares of the energy producer’s stock valued at $257,176,000 after acquiring an additional 43,485 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in ConocoPhillips by 24.2% in the fourth quarter. CWA Asset Management Group LLC now owns 2,638 shares of the energy producer’s stock valued at $306,000 after acquiring an additional 514 shares in the last quarter. Finally, NEOS Investment Management LLC grew its holdings in ConocoPhillips by 33.2% in the fourth quarter. NEOS Investment Management LLC now owns 16,912 shares of the energy producer’s stock worth $1,963,000 after purchasing an additional 4,212 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on COP shares. Scotiabank decreased their price objective on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. StockNews.com cut ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Susquehanna dropped their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Bank of America reaffirmed a “buy” rating and issued a $147.00 price objective on shares of ConocoPhillips in a research report on Friday, June 14th. Finally, UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $140.82.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the completion of the transaction, the director now owns 455,909 shares in the company, valued at $49,288,321.99. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $105.28 on Tuesday. The firm’s fifty day moving average is $108.71 and its two-hundred day moving average is $116.20. The firm has a market cap of $123.13 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.85 and a beta of 1.22. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 earnings per share. Research analysts expect that ConocoPhillips will post 8.14 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.