UMB Bank n.a. Sells 3,731 Shares of ConocoPhillips (NYSE:COP)

UMB Bank n.a. lowered its holdings in ConocoPhillips (NYSE:COP) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,002 shares of the energy producer’s stock after selling 3,731 shares during the quarter. UMB Bank n.a.’s holdings in ConocoPhillips were worth $9,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cooksen Wealth LLC bought a new stake in ConocoPhillips during the 4th quarter valued at $27,000. Stephens Consulting LLC boosted its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares in the last quarter. Richardson Capital Management LLC purchased a new position in ConocoPhillips in the first quarter valued at about $31,000. Northwest Bank & Trust Co bought a new position in ConocoPhillips in the fourth quarter worth about $32,000. Finally, Ruedi Wealth Management Inc. lifted its position in shares of ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Trading Up 0.8 %

COP traded up $0.84 during trading hours on Thursday, reaching $111.81. The company’s stock had a trading volume of 990,161 shares, compared to its average volume of 5,928,862. The business’s 50-day moving average is $108.89 and its 200-day moving average is $115.76. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The stock has a market cap of $130.77 billion, a PE ratio of 12.57, a P/E/G ratio of 0.87 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during 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 quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company earned $1.84 EPS. As a group, equities research analysts predict that ConocoPhillips will post 8.02 earnings per share for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on COP shares. Barclays cut their price objective on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Scotiabank reduced their price target on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Wells Fargo & Company reduced their target price on ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Susquehanna lowered their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and an average price target of $138.29.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction 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 of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is 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.