TIAA Trust National Association Purchases 3,310 Shares of ConocoPhillips (NYSE:COP)

TIAA Trust National Association lifted its position in ConocoPhillips (NYSE:COP) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 184,226 shares of the energy producer’s stock after buying an additional 3,310 shares during the period. TIAA Trust National Association’s holdings in ConocoPhillips were worth $21,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in COP. International Assets Investment Management LLC raised its stake in shares of ConocoPhillips by 20.7% in the fourth quarter. International Assets Investment Management LLC now owns 9,600 shares of the energy producer’s stock worth $1,114,000 after purchasing an additional 1,644 shares during the last quarter. Gilbert & Cook Inc. raised its position in ConocoPhillips by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 13,438 shares of the energy producer’s stock worth $1,560,000 after buying an additional 483 shares during the last quarter. Spire Wealth Management lifted its stake in ConocoPhillips by 0.6% during the 4th quarter. Spire Wealth Management now owns 17,993 shares of the energy producer’s stock valued at $1,941,000 after acquiring an additional 103 shares during the period. Private Advisor Group LLC boosted its holdings in shares of ConocoPhillips by 8.1% during the 4th quarter. Private Advisor Group LLC now owns 65,881 shares of the energy producer’s stock valued at $7,647,000 after acquiring an additional 4,910 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of ConocoPhillips by 98.6% in the fourth quarter. Apollon Wealth Management LLC now owns 24,510 shares of the energy producer’s stock worth $2,845,000 after acquiring an additional 12,170 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on COP shares. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group increased their target price on ConocoPhillips from $151.00 to $153.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Wells Fargo & Company dropped their price objective on shares of ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on shares of ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective for the company. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.65.

ConocoPhillips Trading Down 3.5 %

COP stock opened at $109.86 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. ConocoPhillips has a 1-year low of $102.27 and a 1-year high of $135.18. The business has a 50 day simple moving average of $111.60 and a two-hundred day simple moving average of $117.10. The company has a market capitalization of $128.49 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 0.85 and a beta of 1.24.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share 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 analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate that ConocoPhillips will post 8.5 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.11%. ConocoPhillips’s dividend payout ratio (DPR) is 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.