Bangor Savings Bank Acquires 262 Shares of ConocoPhillips (NYSE:COP)

Bangor Savings Bank raised its holdings in ConocoPhillips (NYSE:COP) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,277 shares of the energy producer’s stock after acquiring an additional 262 shares during the period. Bangor Savings Bank’s holdings in ConocoPhillips were worth $240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COP. Cooksen Wealth LLC bought a new stake in shares of ConocoPhillips during the fourth quarter worth about $27,000. Stephens Consulting LLC grew its holdings in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares during the last quarter. Richardson Capital Management LLC bought a new stake in ConocoPhillips in the first quarter valued at approximately $31,000. Northwest Bank & Trust Co bought a new stake in ConocoPhillips in the fourth quarter valued at approximately $32,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

COP has been the topic of several analyst reports. Scotiabank reduced their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Barclays lowered their target price on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. StockNews.com lowered ConocoPhillips from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Bank of America reaffirmed a “buy” rating and set a $147.00 target price on shares of ConocoPhillips in a research report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of “Moderate Buy” and an average target price of $138.29.

ConocoPhillips Stock Down 3.4 %

Shares of NYSE:COP opened at $110.80 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The company has a market capitalization of $129.58 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The business has a fifty day moving average price of $108.88 and a two-hundred day moving average price of $115.88.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The company had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 EPS. Analysts forecast that ConocoPhillips will post 8.02 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s payout ratio is presently 26.27%.

Insider Buying and Selling at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

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.