ConocoPhillips (NYSE:COP) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. boosted its stake in ConocoPhillips (NYSE:COP) by 5.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,047 shares of the energy producer’s stock after acquiring an additional 403 shares during the period. Penobscot Investment Management Company Inc.’s holdings in ConocoPhillips were worth $934,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Investment Counsel Inc acquired a new position in shares of ConocoPhillips in the 3rd quarter worth approximately $228,000. Columbia Trust Co 01012016 raised its position in ConocoPhillips by 1.2% in the fourth quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock valued at $1,098,000 after purchasing an additional 112 shares during the period. Raymond James & Associates lifted its stake in ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after purchasing an additional 23,572 shares in the last quarter. Syon Capital LLC purchased a new position in shares of ConocoPhillips during the third quarter worth $2,262,000. Finally, PFG Investments LLC purchased a new stake in shares of ConocoPhillips in the 3rd quarter valued at $233,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Performance

Shares of COP opened at $125.62 on Wednesday. The company has a market capitalization of $147.78 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. ConocoPhillips has a 52-week low of $95.70 and a 52-week high of $135.18. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $123.20 and a 200 day moving average price of $117.67.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.32. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $14.47 billion. During the same quarter in the prior year, the business posted $2.71 EPS. Research analysts predict that ConocoPhillips will post 9.57 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were given a dividend of $0.78 per share. The ex-dividend date was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is 25.61%.

Analyst Ratings Changes

A number of brokerages recently commented on COP. Barclays initiated coverage on ConocoPhillips in a report on Wednesday, April 10th. They set an “overweight” rating and a $158.00 target price for the company. Raymond James reduced their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. UBS Group lifted their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Mizuho reiterated a “neutral” rating and set a $139.00 target price (up from $132.00) on shares of ConocoPhillips in a report on Friday, March 22nd. Finally, Truist Financial decreased their price target on shares of ConocoPhillips from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Monday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $142.65.

Insider Transactions at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other ConocoPhillips news, EVP Nicholas G. Olds sold 12,150 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the completion of the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at $853,669.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.34% of the company’s stock.

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.