ConocoPhillips (NYSE:COP) Shares Purchased by Kennebec Savings Bank

Kennebec Savings Bank raised its position in shares of ConocoPhillips (NYSE:COP) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,839 shares of the energy producer’s stock after purchasing an additional 349 shares during the period. Kennebec Savings Bank’s holdings in ConocoPhillips were worth $613,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of ConocoPhillips by 11.7% during the 4th quarter. Vanguard Group Inc. now owns 121,826,062 shares of the energy producer’s stock worth $12,081,491,000 after buying an additional 12,751,120 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of ConocoPhillips by 13.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 45,847,572 shares of the energy producer’s stock worth $4,546,706,000 after buying an additional 5,549,078 shares in the last quarter. Invesco Ltd. raised its position in shares of ConocoPhillips by 37.1% during the 4th quarter. Invesco Ltd. now owns 15,570,246 shares of the energy producer’s stock worth $1,544,101,000 after buying an additional 4,211,939 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ConocoPhillips by 13.7% during the 4th quarter. Geode Capital Management LLC now owns 28,131,288 shares of the energy producer’s stock worth $2,792,521,000 after buying an additional 3,397,360 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of ConocoPhillips by 27.6% during the 4th quarter. Northern Trust Corp now owns 13,757,835 shares of the energy producer’s stock worth $1,364,364,000 after buying an additional 2,971,661 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Up 2.1%

COP stock opened at $87.18 on Friday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $118.40. The company’s 50 day simple moving average is $88.74 and its 200-day simple moving average is $96.42. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The firm has a market capitalization of $110.21 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion for the quarter, compared to analyst estimates of $15.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.58%. ConocoPhillips’s dividend payout ratio is currently 39.64%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of ConocoPhillips from $116.00 to $118.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Royal Bank of Canada dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Scotiabank dropped their price target on shares of ConocoPhillips from $115.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Bank of America dropped their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $121.63.

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.