Rockland Trust Co. Acquires Shares of 4,956 ConocoPhillips $COP

Rockland Trust Co. purchased a new position in shares of ConocoPhillips (NYSE:COP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,956 shares of the energy producer’s stock, valued at approximately $469,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COP. Navalign LLC lifted its stake in shares of ConocoPhillips by 1.1% during the 2nd quarter. Navalign LLC now owns 9,918 shares of the energy producer’s stock valued at $890,000 after buying an additional 108 shares in the last quarter. Greenfield Savings Bank raised its stake in shares of ConocoPhillips by 1.2% during the 3rd quarter. Greenfield Savings Bank now owns 9,018 shares of the energy producer’s stock valued at $853,000 after purchasing an additional 108 shares during the period. Perennial Investment Advisors LLC boosted its stake in ConocoPhillips by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 4,097 shares of the energy producer’s stock worth $368,000 after purchasing an additional 112 shares during the period. FAS Wealth Partners Inc. grew its holdings in ConocoPhillips by 0.9% during the 2nd quarter. FAS Wealth Partners Inc. now owns 12,154 shares of the energy producer’s stock valued at $1,091,000 after buying an additional 112 shares in the last quarter. Finally, Strategic Blueprint LLC lifted its holdings in shares of ConocoPhillips by 1.4% in the third quarter. Strategic Blueprint LLC now owns 7,917 shares of the energy producer’s stock worth $749,000 after buying an additional 112 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of ConocoPhillips in a report on Monday, December 15th. BMO Capital Markets raised their target price on shares of ConocoPhillips from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of ConocoPhillips in a research report on Monday, December 29th. Capital One Financial upped their target price on shares of ConocoPhillips from $111.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 20th. Finally, Morgan Stanley dropped their price target on ConocoPhillips from $117.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, January 23rd. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $114.78.

ConocoPhillips Trading Down 1.1%

Shares of COP stock opened at $107.50 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The business has a 50-day moving average of $97.24 and a 200 day moving average of $93.89. The stock has a market capitalization of $132.84 billion, a PE ratio of 16.96 and a beta of 0.32. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $108.89.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.21). ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period last year, the company posted $1.98 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be issued a $0.84 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $3.36 annualized dividend and a yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is 53.00%.

Insider Activity

In related news, CEO Ryan Michael Lance sold 500,708 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $92.50, for a total transaction of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares in the company, valued at $30,152,410. This represents a 60.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

About ConocoPhillips

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.