Kennebec Savings Bank Grows Holdings in ConocoPhillips (NYSE:COP)

Kennebec Savings Bank increased its position in shares of ConocoPhillips (NYSE:COP) by 6.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,839 shares of the energy producer’s stock after buying 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 reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COP. Tallon Kerry Patrick purchased a new stake in ConocoPhillips during the 4th quarter worth $511,000. Financial Advocates Investment Management increased its stake in ConocoPhillips by 201.8% during the 4th quarter. Financial Advocates Investment Management now owns 11,573 shares of the energy producer’s stock worth $1,148,000 after buying an additional 7,738 shares during the period. Silver Oak Securities Incorporated increased its stake in ConocoPhillips by 17.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 2,085 shares of the energy producer’s stock worth $202,000 after buying an additional 311 shares during the period. GHP Investment Advisors Inc. increased its stake in ConocoPhillips by 36.1% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,256 shares of the energy producer’s stock worth $125,000 after buying an additional 333 shares during the period. Finally, Leo Wealth LLC increased its stake in ConocoPhillips by 106.9% during the 4th quarter. Leo Wealth LLC now owns 10,096 shares of the energy producer’s stock worth $1,001,000 after buying an additional 5,216 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 2.1%

NYSE COP opened at $87.18 on Friday. ConocoPhillips has a one year low of $79.88 and a one year high of $118.40. The company has a 50-day simple moving average of $88.74 and a 200-day simple moving average of $96.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.14 and a current ratio of 1.29. The firm has a market capitalization of $110.21 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.61.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the business posted $2.05 EPS. On average, equities analysts forecast that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on COP shares. Mizuho dropped their price target on shares of ConocoPhillips from $127.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Susquehanna dropped their target price on shares of ConocoPhillips from $120.00 to $114.00 and set a “positive” rating for the company in a research report on Monday, May 12th. Morgan Stanley boosted their target price 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. Wells Fargo & Company dropped their target price on shares of ConocoPhillips from $116.00 to $113.00 and set an “overweight” rating for the company in a research report on Wednesday, May 14th. Finally, Bank of America dropped their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $121.63.

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.