ConocoPhillips (NYSE:COP) Shares Purchased by Kennebec Savings Bank

Kennebec Savings Bank raised its stake in ConocoPhillips (NYSE:COP) by 31.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,490 shares of the energy producer’s stock after purchasing an additional 1,301 shares during the quarter. Kennebec Savings Bank’s holdings in ConocoPhillips were worth $572,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Cypress Capital Group increased its position in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after purchasing an additional 96 shares in the last quarter. Orrstown Financial Services Inc. increased its position in shares of ConocoPhillips by 3.0% in the fourth quarter. Orrstown Financial Services Inc. now owns 3,342 shares of the energy producer’s stock worth $331,000 after acquiring an additional 96 shares in the last quarter. Aprio Wealth Management LLC raised its stake in shares of ConocoPhillips by 4.8% in the 3rd quarter. Aprio Wealth Management LLC now owns 2,125 shares of the energy producer’s stock valued at $224,000 after acquiring an additional 97 shares during the period. Smithfield Trust Co boosted its position in ConocoPhillips by 3.3% during the 3rd quarter. Smithfield Trust Co now owns 3,132 shares of the energy producer’s stock worth $332,000 after purchasing an additional 100 shares during the period. Finally, Ignite Planners LLC increased its holdings in ConocoPhillips by 1.0% in the 3rd quarter. Ignite Planners LLC now owns 10,001 shares of the energy producer’s stock valued at $1,053,000 after purchasing an additional 102 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ConocoPhillips

In related news, Director Arjun N. Murti bought 2,500 shares of the company’s stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the completion of the transaction, the director now directly owns 21,500 shares in the company, valued at $2,061,205. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R A. Walker purchased 10,400 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were acquired at an average cost of $97.80 per share, for a total transaction of $1,017,120.00. Following the completion of the purchase, the director now directly owns 38,000 shares of the company’s stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COP shares. Evercore ISI reissued an “outperform” rating and set a $165.00 price target on shares of ConocoPhillips in a research report on Friday, December 6th. Truist Financial upped their target price on shares of ConocoPhillips from $138.00 to $139.00 and gave the company a “buy” rating in a research note on Monday, January 13th. TD Cowen initiated coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of ConocoPhillips from $134.00 to $132.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $135.89.

ConocoPhillips Stock Down 0.1 %

ConocoPhillips stock opened at $101.41 on Friday. The company has a market capitalization of $116.72 billion, a PE ratio of 12.06, a PEG ratio of 0.78 and a beta of 1.19. ConocoPhillips has a 12-month low of $94.23 and a 12-month high of $135.18. The firm’s fifty day moving average is $102.29 and its 200 day moving average is $106.86. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period last year, the business earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that ConocoPhillips will post 7.64 EPS for the current fiscal year.

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, 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.