Heritage Trust Co Takes Position in ConocoPhillips (NYSE:COP)

Heritage Trust Co purchased a new position in ConocoPhillips (NYSE:COP) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 20,782 shares of the energy producer’s stock, valued at approximately $1,036,000.

Other large investors have also bought and sold shares of the company. Buckingham Asset Management LLC increased its stake in ConocoPhillips by 43.3% in the first quarter. Buckingham Asset Management LLC now owns 8,505 shares of the energy producer’s stock worth $424,000 after buying an additional 2,568 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in ConocoPhillips by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 149,823 shares of the energy producer’s stock worth $7,472,000 after buying an additional 2,745 shares in the last quarter. Smith Moore & CO. increased its stake in ConocoPhillips by 1.7% in the first quarter. Smith Moore & CO. now owns 6,401 shares of the energy producer’s stock worth $319,000 after buying an additional 105 shares in the last quarter. State of Wisconsin Investment Board increased its stake in ConocoPhillips by 20.2% in the first quarter. State of Wisconsin Investment Board now owns 1,273,022 shares of the energy producer’s stock worth $63,486,000 after buying an additional 213,669 shares in the last quarter. Finally, CIBC World Markets Inc. increased its stake in ConocoPhillips by 217.9% in the first quarter. CIBC World Markets Inc. now owns 25,230 shares of the energy producer’s stock worth $1,258,000 after buying an additional 17,293 shares in the last quarter. Hedge funds and other institutional investors own 68.68% of the company’s stock.

Shares of ConocoPhillips (NYSE COP) traded down 0.56% during mid-day trading on Monday, reaching $44.54. The company’s stock had a trading volume of 5,062,903 shares. The firm’s market cap is $54.20 billion. ConocoPhillips has a 12 month low of $39.00 and a 12 month high of $53.17. The company has a 50-day moving average of $44.17 and a 200-day moving average of $46.50.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, July 27th. The energy producer reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.16. The firm had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $6.74 billion. ConocoPhillips had a negative return on equity of 2.86% and a negative net margin of 12.29%. During the same period last year, the company earned ($0.79) earnings per share. On average, analysts predict that ConocoPhillips will post $0.25 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, July 24th will be given a $0.265 dividend. The ex-dividend date is Thursday, July 20th. This represents a $1.06 annualized dividend and a yield of 2.38%. ConocoPhillips’s dividend payout ratio is presently -34.98%.

A number of research firms have weighed in on COP. BidaskClub upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Friday. Scotiabank set a $54.00 price target on shares of ConocoPhillips and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $59.00 price objective on ConocoPhillips and gave the company a “buy” rating in a report on Sunday, July 30th. Finally, Bank of America Corporation raised ConocoPhillips from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $51.00 to $58.00 in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. ConocoPhillips currently has an average rating of “Buy” and an average price target of $55.18.

In other ConocoPhillips news, VP James D. Mcmorran sold 9,091 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $47.47, for a total value of $431,549.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is currently owned by company insiders.

About ConocoPhillips

ConocoPhillips is an independent exploration and production company. The Company explores for, produces, transports and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG) and natural gas liquids. The Company operates through five segments: Alaska, Lower 48, Canada, Europe and North Africa, Asia Pacific and Middle East, and Other International.