ConocoPhillips (NYSE:COP) Stake Boosted by Norway Savings Bank

Norway Savings Bank lifted its stake in shares of ConocoPhillips (NYSE:COP) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,038 shares of the energy producer’s stock after purchasing an additional 495 shares during the quarter. Norway Savings Bank’s holdings in ConocoPhillips were worth $1,765,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Jackson Grant Investment Advisers Inc. lifted its stake in shares of ConocoPhillips by 398.1% in the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 269 shares of the energy producer’s stock worth $27,000 after acquiring an additional 215 shares during the period. Fairfield Bush & CO. acquired a new stake in shares of ConocoPhillips in the 1st quarter worth approximately $31,000. Financial Connections Group Inc. lifted its stake in shares of ConocoPhillips by 383.3% in the 4th quarter. Financial Connections Group Inc. now owns 290 shares of the energy producer’s stock worth $34,000 after acquiring an additional 230 shares during the period. NewSquare Capital LLC lifted its stake in shares of ConocoPhillips by 335.4% in the 1st quarter. NewSquare Capital LLC now owns 344 shares of the energy producer’s stock worth $34,000 after acquiring an additional 265 shares during the period. Finally, Horan Securities Inc. lifted its stake in shares of ConocoPhillips by 40.2% in the 1st quarter. Horan Securities Inc. now owns 349 shares of the energy producer’s stock worth $35,000 after acquiring an additional 100 shares during the period. 80.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

COP stock traded down $0.93 during mid-day trading on Friday, reaching $123.57. 12,440,960 shares of the stock traded hands, compared to its average volume of 3,823,348. The company has a quick ratio of 1.28, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. ConocoPhillips has a 52 week low of $91.53 and a 52 week high of $138.49. The business has a 50-day moving average of $116.22 and a two-hundred day moving average of $107.24. The firm has a market capitalization of $147.97 billion, a PE ratio of 11.90, a P/E/G ratio of 0.78 and a beta of 1.30.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 3rd. The energy producer reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.10). ConocoPhillips had a net margin of 18.66% and a return on equity of 27.27%. The firm had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter last year, the company earned $3.91 earnings per share. As a group, equities analysts predict that ConocoPhillips will post 8.74 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, September 28th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, September 27th. ConocoPhillips’s payout ratio is presently 19.65%.

Insider Activity at ConocoPhillips

In related news, CEO Ryan Michael Lance sold 569,400 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $122.14, for a total value of $69,546,516.00. Following the completion of the sale, the chief executive officer now owns 18,187 shares in the company, valued at $2,221,360.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

COP has been the subject of several recent research reports. Raymond James cut their target price on shares of ConocoPhillips from $142.00 to $138.00 and set a “strong-buy” rating for the company in a research note on Monday, July 24th. Wells Fargo & Company increased their target price on shares of ConocoPhillips from $134.00 to $138.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Jefferies Financial Group cut their target price on shares of ConocoPhillips from $143.00 to $141.00 and set a “buy” rating for the company in a research note on Monday, August 28th. Citigroup cut their target price on shares of ConocoPhillips from $145.00 to $140.00 in a research note on Wednesday, July 12th. Finally, UBS Group increased their target price on shares of ConocoPhillips from $127.00 to $147.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips currently has an average rating of “Moderate Buy” and an average price target of $134.42.

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 and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.