18,629 Shares in ConocoPhillips $COP Acquired by Glenview Trust Co

Glenview Trust Co purchased a new position in shares of ConocoPhillips (NYSE:COP) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 18,629 shares of the energy producer’s stock, valued at approximately $1,937,000.

Other large investors have also made changes to their positions in the company. AXA S.A. boosted its stake in shares of ConocoPhillips by 91.1% in the 2nd quarter. AXA S.A. now owns 84,937 shares of the energy producer’s stock valued at $7,622,000 after purchasing an additional 40,499 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of ConocoPhillips by 6.1% during the 2nd quarter. Sei Investments Co. now owns 784,368 shares of the energy producer’s stock valued at $70,397,000 after acquiring an additional 44,852 shares in the last quarter. BNP Paribas bought a new stake in ConocoPhillips during the 2nd quarter worth $33,000. Osterweis Capital Management Inc. bought a new position in ConocoPhillips in the second quarter valued at about $151,000. Finally, Main Street Financial Solutions LLC boosted its stake in shares of ConocoPhillips by 53.5% during the second quarter. Main Street Financial Solutions LLC now owns 4,806 shares of the energy producer’s stock valued at $431,000 after purchasing an additional 1,675 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on COP. Freedom Capital upgraded ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Jefferies Financial Group upped their price target on ConocoPhillips from $160.00 to $161.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Royal Bank Of Canada set a $130.00 price objective on ConocoPhillips in a research note on Monday, June 22nd. Susquehanna upped their target price on ConocoPhillips from $155.00 to $161.00 and gave the company a “positive” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group lowered their price target on shares of ConocoPhillips from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $140.29.

ConocoPhillips Trading Up 0.7%

NYSE:COP opened at $130.46 on Friday. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $135.88. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $156.73 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 1.36 and a beta of 0.11. The firm has a fifty day simple moving average of $117.42 and a two-hundred day simple moving average of $118.56.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.34. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $18.79 billion. During the same quarter in the prior year, the firm earned $1.42 EPS. The business’s revenue was up 32.4% on a year-over-year basis. Analysts expect that ConocoPhillips will post 10.55 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, August 17th. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. ConocoPhillips’s payout ratio is currently 44.44%.

Insider Activity at ConocoPhillips

In other ConocoPhillips news, SVP Andrew D. Lundquist sold 9,487 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total transaction of $1,282,168.05. Following the completion of the sale, the senior vice president owned 9,593 shares in the company, valued at approximately $1,296,493.95. The trade was a 49.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.