Busey Bank Sells 456 Shares of ConocoPhillips (NYSE:COP)

Busey Bank decreased its stake in ConocoPhillips (NYSE:COP) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,017 shares of the energy producer’s stock after selling 456 shares during the quarter. Busey Bank’s holdings in ConocoPhillips were worth $1,370,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors boosted its stake in shares of ConocoPhillips by 9.6% during the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after purchasing an additional 1,856,085 shares during the period. International Assets Investment Management LLC grew its holdings in ConocoPhillips by 10,634.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock valued at $126,933,000 after purchasing an additional 1,194,434 shares during the last quarter. Clearbridge Investments LLC raised its position in ConocoPhillips by 46.0% in the 1st quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock worth $409,833,000 after purchasing an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc lifted its stake in ConocoPhillips by 34.7% in the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after purchasing an additional 712,062 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on COP. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Scotiabank dropped their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Mizuho reduced their target price on ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Susquehanna cut their price target on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

ConocoPhillips Trading Down 0.1 %

Shares of NYSE:COP opened at $104.36 on Friday. The company has a market capitalization of $121.19 billion, a PE ratio of 11.63, a P/E/G ratio of 0.84 and a beta of 1.21. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The business’s fifty day simple moving average is $108.74 and its 200-day simple moving average is $114.21.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 7.95 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. Investors of record on Monday, August 12th were given a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. ConocoPhillips’s payout ratio is 25.86%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by insiders.

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.