Norway Savings Bank Grows Stock Position in ConocoPhillips (NYSE:COP)

Norway Savings Bank grew its position in shares of ConocoPhillips (NYSE:COP) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,518 shares of the energy producer’s stock after buying an additional 677 shares during the period. Norway Savings Bank’s holdings in ConocoPhillips were worth $2,357,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Evergreen Capital Management LLC raised its position in ConocoPhillips by 0.5% in the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after acquiring an additional 89 shares during the period. Adirondack Trust Co. raised its holdings in ConocoPhillips by 3.1% in the 4th quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock worth $336,000 after purchasing an additional 90 shares during the period. West Paces Advisors Inc. lifted its position in ConocoPhillips by 5.9% during the first quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock valued at $211,000 after purchasing an additional 93 shares in the last quarter. Greenfield Savings Bank grew its holdings in ConocoPhillips by 1.3% during the fourth quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after purchasing an additional 94 shares during the period. Finally, Relative Value Partners Group LLC increased its position in ConocoPhillips by 2.2% in the fourth quarter. Relative Value Partners Group LLC now owns 4,511 shares of the energy producer’s stock worth $524,000 after buying an additional 95 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Susquehanna lifted their price objective on ConocoPhillips from $133.00 to $154.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Mizuho dropped their price target on shares of ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Truist Financial raised their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, June 3rd. Barclays upped their target price on shares of ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Piper Sandler boosted their price objective on ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Price Performance

COP opened at $114.38 on Friday. ConocoPhillips has a 1 year low of $99.35 and a 1 year high of $135.18. The firm has a market capitalization of $133.77 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. The business’s 50-day moving average is $118.30 and its two-hundred day moving average is $117.53.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Research analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is 26.27%.

ConocoPhillips Company 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.