UMB Bank n.a. Cuts Stock Holdings in ConocoPhillips (NYSE:COP)

UMB Bank n.a. cut its stake in ConocoPhillips (NYSE:COP) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,002 shares of the energy producer’s stock after selling 3,731 shares during the period. UMB Bank n.a.’s holdings in ConocoPhillips were worth $9,370,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cardinal Capital Management Inc. acquired a new stake in shares of ConocoPhillips in the 4th quarter valued at $13,468,000. Harbor Investment Advisory LLC increased its holdings in shares of ConocoPhillips by 2.2% in the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer’s stock valued at $1,234,000 after acquiring an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in ConocoPhillips by 5.6% during the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer’s stock worth $3,320,000 after purchasing an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in ConocoPhillips in the second quarter valued at $30,021,000. Finally, EP Wealth Advisors LLC lifted its stake in ConocoPhillips by 19.1% in the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer’s stock valued at $3,640,000 after buying an additional 4,578 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 0.8 %

ConocoPhillips stock traded up $0.84 during trading on Thursday, hitting $111.81. The company’s stock had a trading volume of 990,161 shares, compared to its average volume of 5,928,862. The stock’s fifty day moving average is $108.89 and its 200 day moving average is $115.76. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market capitalization of $130.77 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 0.87 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share. As a group, equities research analysts predict that ConocoPhillips will post 8.02 EPS for the current year.

ConocoPhillips Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Insider Buying and Selling

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Susquehanna dropped their price objective on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Mizuho dropped their price target on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Scotiabank reduced their price objective on shares of ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. UBS Group reduced their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Barclays reduced their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $138.29.

About ConocoPhillips

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.