ConocoPhillips $COP Shares Bought by Kennebec Savings Bank

Kennebec Savings Bank grew its stake in shares of ConocoPhillips (NYSE:COP) by 6.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,203 shares of the energy producer’s stock after acquiring an additional 364 shares during the period. Kennebec Savings Bank’s holdings in ConocoPhillips were worth $557,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in ConocoPhillips by 379.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 40,094,754 shares of the energy producer’s stock worth $4,210,751,000 after purchasing an additional 31,736,423 shares during the period. Wellington Management Group LLP boosted its stake in ConocoPhillips by 1.4% in the 1st quarter. Wellington Management Group LLP now owns 31,610,608 shares of the energy producer’s stock worth $3,319,746,000 after purchasing an additional 437,709 shares during the period. Goldman Sachs Group Inc. boosted its stake in ConocoPhillips by 30.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,972,545 shares of the energy producer’s stock worth $942,297,000 after purchasing an additional 2,080,625 shares during the period. Ameriprise Financial Inc. boosted its stake in ConocoPhillips by 15.1% in the 1st quarter. Ameriprise Financial Inc. now owns 8,202,861 shares of the energy producer’s stock worth $861,490,000 after purchasing an additional 1,073,906 shares during the period. Finally, Nuveen LLC acquired a new position in ConocoPhillips in the 1st quarter worth approximately $658,981,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

COP has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. Susquehanna decreased their price objective on shares of ConocoPhillips from $114.00 to $113.00 and set a “positive” rating for the company in a research note on Wednesday, July 23rd. Piper Sandler raised their price objective on shares of ConocoPhillips from $123.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Raymond James Financial decreased their price objective on shares of ConocoPhillips from $117.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, September 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $123.00 target price (up previously from $119.00) on shares of ConocoPhillips in a research note on Sunday, August 10th. Sixteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $120.14.

ConocoPhillips Trading Up 0.8%

Shares of NYSE:COP opened at $95.39 on Thursday. The firm has a market capitalization of $119.13 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 2.49 and a beta of 0.62. The firm has a fifty day moving average of $94.98 and a two-hundred day moving average of $93.00. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $116.08.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 7th. The energy producer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The business had revenue of $14.94 billion for the quarter, compared to the consensus estimate of $14.39 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.98 EPS. On average, equities analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, August 18th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.3%. ConocoPhillips’s dividend payout ratio (DPR) is currently 41.88%.

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.