FARMERS & MERCHANTS TRUST Co OF LONG BEACH Has $1.81 Million Position in ConocoPhillips (COP)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its stake in ConocoPhillips (NYSE:COP) by 6.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,124 shares of the energy producer’s stock after acquiring an additional 1,682 shares during the period. ConocoPhillips accounts for 0.8% of FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s investment portfolio, making the stock its 27th largest holding. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in ConocoPhillips were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in COP. Vanguard Group Inc boosted its holdings in shares of ConocoPhillips by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 88,571,791 shares of the energy producer’s stock worth $6,855,456,000 after buying an additional 451,104 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of ConocoPhillips by 1.0% during the 4th quarter. BlackRock Inc. now owns 80,608,101 shares of the energy producer’s stock worth $5,025,913,000 after buying an additional 809,773 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of ConocoPhillips by 5.8% during the 4th quarter. Northern Trust Corp now owns 15,650,146 shares of the energy producer’s stock worth $975,786,000 after buying an additional 861,057 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of ConocoPhillips by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 15,108,105 shares of the energy producer’s stock worth $940,354,000 after buying an additional 659,942 shares in the last quarter. Finally, Norges Bank bought a new position in shares of ConocoPhillips during the 4th quarter worth approximately $738,471,000. Institutional investors and hedge funds own 74.69% of the company’s stock.

Shares of COP opened at $62.10 on Friday. ConocoPhillips has a 12-month low of $56.75 and a 12-month high of $80.24. The company has a current ratio of 1.86, a quick ratio of 1.72 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $70.18 billion, a P/E ratio of 13.56, a PEG ratio of 1.50 and a beta of 1.06.

ConocoPhillips (NYSE:COP) last issued its earnings results on Tuesday, April 30th. The energy producer reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. ConocoPhillips had a return on equity of 16.65% and a net margin of 18.08%. The company had revenue of $10.06 billion for the quarter, compared to analysts’ expectations of $9.16 billion. During the same period last year, the business earned $0.96 EPS. As a group, sell-side analysts forecast that ConocoPhillips will post 4.44 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.93%.

A number of research firms have issued reports on COP. Morgan Stanley set a $77.00 price target on ConocoPhillips and gave the stock a “buy” rating in a report on Tuesday, January 29th. ValuEngine cut ConocoPhillips from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Credit Suisse Group cut ConocoPhillips from an “outperform” rating to a “neutral” rating and set a $64.00 price target on the stock. in a report on Wednesday, May 1st. Goldman Sachs Group upgraded ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the stock from $76.00 to $82.00 in a report on Sunday, February 3rd. Finally, Zacks Investment Research upgraded ConocoPhillips from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $78.60.

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ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.

Further Reading: Fundamental Analysis and Individual Investors

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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