Charles Schwab Trust Co Buys 248 Shares of ConocoPhillips (NYSE:COP)

Charles Schwab Trust Co increased its stake in ConocoPhillips (NYSE:COP) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,059 shares of the energy producer’s stock after acquiring an additional 248 shares during the period. Charles Schwab Trust Co’s holdings in ConocoPhillips were worth $898,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in ConocoPhillips by 19.0% in the third quarter. State Street Corp now owns 66,928,793 shares of the energy producer’s stock valued at $7,046,263,000 after buying an additional 10,663,093 shares during the period. Wellington Management Group LLP boosted its position in shares of ConocoPhillips by 20.2% in the 3rd quarter. Wellington Management Group LLP now owns 31,161,897 shares of the energy producer’s stock worth $3,280,725,000 after purchasing an additional 5,240,016 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ConocoPhillips by 3.9% during the third quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer’s stock worth $2,601,639,000 after purchasing an additional 924,289 shares during the period. Franklin Resources Inc. increased its holdings in ConocoPhillips by 12.5% in the third quarter. Franklin Resources Inc. now owns 13,557,351 shares of the energy producer’s stock valued at $1,469,163,000 after purchasing an additional 1,506,599 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in ConocoPhillips by 59.7% in the third quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock valued at $1,311,369,000 after buying an additional 4,656,040 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Barclays upped their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. TD Cowen started coverage on shares of ConocoPhillips in a research report on Friday. They set a “buy” rating and a $125.00 price target on the stock. BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Mizuho raised ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $132.00 to $134.00 in a research note on Monday, December 16th. Finally, Susquehanna increased their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.00.

Insider Buying and Selling at ConocoPhillips

In other news, Director R A. Walker bought 10,400 shares of the stock in a transaction dated Tuesday, December 17th. The shares were bought at an average price of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now owns 38,000 shares in the company, valued at approximately $3,716,400. This trade represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arjun N. Murti acquired 2,500 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the acquisition, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Up 0.1 %

NYSE:COP opened at $105.76 on Tuesday. The firm has a market capitalization of $121.72 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.19. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. ConocoPhillips has a twelve month low of $94.23 and a twelve month high of $135.18. The stock’s 50 day moving average price is $103.79 and its two-hundred day moving average price is $107.37.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Equities research analysts expect that ConocoPhillips will post 7.68 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 37.10%.

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.