Bangor Savings Bank Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

Bangor Savings Bank grew its position in ConocoPhillips (NYSE:COP) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,482 shares of the energy producer’s stock after acquiring an additional 205 shares during the quarter. Bangor Savings Bank’s holdings in ConocoPhillips were worth $246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in COP. Strategic Financial Concepts LLC lifted its stake in shares of ConocoPhillips by 3,135.5% in the second quarter. Strategic Financial Concepts LLC now owns 117,903 shares of the energy producer’s stock worth $135,000 after buying an additional 114,259 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of ConocoPhillips by 5,787.6% during the 2nd quarter. Acadian Asset Management LLC now owns 24,728 shares of the energy producer’s stock worth $2,827,000 after purchasing an additional 24,308 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of ConocoPhillips by 20.3% in the second quarter. Ashton Thomas Private Wealth LLC now owns 12,078 shares of the energy producer’s stock valued at $1,382,000 after purchasing an additional 2,036 shares in the last quarter. Choreo LLC increased its holdings in shares of ConocoPhillips by 221.9% in the second quarter. Choreo LLC now owns 46,270 shares of the energy producer’s stock valued at $5,292,000 after purchasing an additional 31,898 shares during the last quarter. Finally, LGT Fund Management Co Ltd. lifted its position in ConocoPhillips by 317.2% during the second quarter. LGT Fund Management Co Ltd. now owns 51,560 shares of the energy producer’s stock worth $5,897,000 after buying an additional 39,202 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Trading Up 1.6 %

NYSE COP opened at $101.56 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market cap of $116.89 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 0.83 and a beta of 1.19. The firm has a 50 day simple moving average of $104.70 and a 200-day simple moving average of $107.97. ConocoPhillips has a one year low of $94.23 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the company posted $2.16 EPS. The firm’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.07%. ConocoPhillips’s dividend payout ratio is 37.10%.

Analysts Set New Price Targets

Several brokerages have issued reports on COP. JPMorgan Chase & Co. upgraded ConocoPhillips from a “neutral” rating to an “overweight” rating and upped their target price for the company from $120.00 to $123.00 in a report on Thursday, December 5th. Wells Fargo & Company raised their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Evercore ISI reiterated an “outperform” rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $136.71.

Insider Activity

In other ConocoPhillips news, Director R A. Walker purchased 10,400 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were bought at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at approximately $3,716,400. This represents a 37.68 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arjun N. Murti acquired 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, with a total value of $239,675.00. Following the completion of the transaction, the director now owns 21,500 shares in the company, valued at approximately $2,061,205. This represents a 13.16 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company’s stock.

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.