Capital City Trust Co. FL Reduces Holdings in ConocoPhillips (NYSE:COP)

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Capital City Trust Co. FL lessened its holdings in ConocoPhillips (NYSE:COP) by 12.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,453 shares of the energy producer’s stock after selling 2,194 shares during the period. Capital City Trust Co. FL’s holdings in ConocoPhillips were worth $1,196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Seven Eight Capital LP acquired a new position in ConocoPhillips in the third quarter valued at $728,000. Huntington National Bank increased its stake in ConocoPhillips by 27.0% in the third quarter. Huntington National Bank now owns 415,157 shares of the energy producer’s stock valued at $32,133,000 after purchasing an additional 88,387 shares during the period. TRUE Private Wealth Advisors increased its stake in ConocoPhillips by 27.6% in the third quarter. TRUE Private Wealth Advisors now owns 5,283 shares of the energy producer’s stock valued at $409,000 after purchasing an additional 1,144 shares during the period. Northstar Investment Advisors LLC acquired a new position in ConocoPhillips in the third quarter valued at $211,000. Finally, Oakbrook Investments LLC increased its stake in ConocoPhillips by 888.6% in the third quarter. Oakbrook Investments LLC now owns 63,170 shares of the energy producer’s stock valued at $4,889,000 after purchasing an additional 56,780 shares during the period. 71.72% of the stock is owned by institutional investors.

COP traded down $0.18 during midday trading on Friday, reaching $66.73. 9,144,620 shares of the company’s stock were exchanged, compared to its average volume of 6,924,958. The company has a current ratio of 1.99, a quick ratio of 1.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $80.62 billion, a P/E ratio of 111.22, a PEG ratio of 1.62 and a beta of 1.22. ConocoPhillips has a 1-year low of $48.97 and a 1-year high of $80.24.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 25th. The energy producer reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.19. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. As a group, analysts forecast that ConocoPhillips will post 4.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, October 15th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, October 12th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s payout ratio is currently 203.33%.

In related news, VP Glenda Mae Schwarz sold 18,882 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the completion of the transaction, the vice president now owns 29,064 shares of the company’s stock, valued at $2,067,903.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ryan Michael Lance sold 160,064 shares of the company’s stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $72.07, for a total transaction of $11,535,812.48. Following the transaction, the chairman now directly owns 106,312 shares of the company’s stock, valued at approximately $7,661,905.84. The disclosure for this sale can be found here. In the last three months, insiders sold 288,378 shares of company stock valued at $20,769,145. Company insiders own 0.88% of the company’s stock.

COP has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Thursday, August 23rd. Morgan Stanley lifted their target price on shares of ConocoPhillips from $82.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 27th. Citigroup lifted their target price on shares of ConocoPhillips from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, October 5th. Bank of America raised shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Monday, October 29th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 target price on shares of ConocoPhillips in a report on Wednesday, August 15th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. ConocoPhillips presently has a consensus rating of “Buy” and an average target price of $75.53.

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About ConocoPhillips

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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