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

Bangor Savings Bank trimmed its position in ConocoPhillips (NYSE:COP) by 16.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,015 shares of the energy producer’s stock after selling 410 shares during the period. Bangor Savings Bank’s holdings in ConocoPhillips were worth $256,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in COP. Cardinal Capital Management Inc. bought a new position in ConocoPhillips in the 4th quarter worth about $13,468,000. Columbia Trust Co 01012016 raised its position in ConocoPhillips by 1.2% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares during the last quarter. Raymond James & Associates raised its position in ConocoPhillips by 1.5% in the 4th quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock worth $181,422,000 after buying an additional 23,572 shares during the last quarter. Quotient Wealth Partners LLC purchased a new position in ConocoPhillips in the 4th quarter worth about $5,594,000. Finally, Townsquare Capital LLC raised its position in ConocoPhillips by 4.3% in the 3rd quarter. Townsquare Capital LLC now owns 56,739 shares of the energy producer’s stock worth $6,797,000 after buying an additional 2,348 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COP. Piper Sandler upped their price target on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Morgan Stanley upped their price target on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Raymond James reissued a “strong-buy” rating and issued a $159.00 target price (up from $155.00) on shares of ConocoPhillips in a report on Thursday, May 30th. Susquehanna increased their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Finally, StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.18.

ConocoPhillips Stock Performance

NYSE COP opened at $111.34 on Monday. The company has a market cap of $130.22 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The business’s 50 day moving average price is $119.76 and its 200-day moving average price is $117.52. ConocoPhillips has a fifty-two week low of $99.35 and a fifty-two week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. Sell-side analysts predict that ConocoPhillips will post 8.91 earnings per share for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

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.