Stock Yards Bank & Trust Co. Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

Stock Yards Bank & Trust Co. lowered its position in ConocoPhillips (NYSE:COP) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,162 shares of the energy producer’s stock after selling 535 shares during the period. Stock Yards Bank & Trust Co.’s holdings in ConocoPhillips were worth $4,822,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Sachetta LLC purchased a new stake in ConocoPhillips in the fourth quarter valued at about $27,000. Cooksen Wealth LLC acquired a new position in shares of ConocoPhillips during the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. raised its position in shares of ConocoPhillips by 96.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 247 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 121 shares during the last quarter. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Finally, Richardson Capital Management LLC purchased a new stake in ConocoPhillips during the 1st quarter worth approximately $31,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of research analyst reports. Argus upgraded shares of ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Wells Fargo & Company lowered their price target on ConocoPhillips from $151.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Susquehanna dropped their price target on ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Raymond James restated a “strong-buy” rating and issued a $159.00 price objective (up from $155.00) on shares of ConocoPhillips in a research note on Thursday, May 30th. Finally, UBS Group increased their price target on shares of ConocoPhillips from $151.00 to $153.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $143.06.

ConocoPhillips Trading Up 2.0 %

Shares of COP stock opened at $105.56 on Tuesday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The company has a market cap of $122.58 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 0.78 and a beta of 1.22. 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 50 day simple moving average of $110.03 and a 200-day simple moving average of $116.69.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data 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. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business had revenue of $14.14 billion for the quarter, compared to the consensus estimate of $14.96 billion. During the same period last year, the firm posted $1.84 earnings per share. The company’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that ConocoPhillips will post 8.41 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 given a $0.58 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.20%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the 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 transaction, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.