Grove Bank & Trust Grows Stake in ConocoPhillips (NYSE:COP)

Grove Bank & Trust increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 59.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,774 shares of the energy producer's stock after buying an additional 7,720 shares during the quarter. Grove Bank & Trust's holdings in ConocoPhillips were worth $2,182,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 4th quarter valued at about $27,000. 10Elms LLP acquired a new position in ConocoPhillips in the 4th quarter worth about $28,000. Crowley Wealth Management Inc. purchased a new position in ConocoPhillips during the fourth quarter worth approximately $32,000. Finally, Marshall Investment Management LLC purchased a new position in ConocoPhillips during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

NYSE:COP traded up $0.96 during mid-day trading on Friday, reaching $94.76. 15,999,874 shares of the stock were exchanged, compared to its average volume of 8,577,621. The company has a quick ratio of 1.13, a current ratio of 1.27 and a debt-to-equity ratio of 0.36. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $118.40. The company has a 50 day simple moving average of $89.48 and a 200-day simple moving average of $95.60. The stock has a market capitalization of $119.79 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.54 and a beta of 0.61.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $2.05 by $0.04. ConocoPhillips had a net margin of 16.02% and a return on equity of 16.54%. The business had revenue of $16.18 billion for the quarter, compared to analysts' expectations of $15.74 billion. During the same period in the previous year, the company posted $2.05 EPS. Analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Insider Activity at ConocoPhillips

In other news, EVP Kirk L. Johnson acquired 5,300 shares of ConocoPhillips stock in a transaction that occurred on Monday, June 16th. The stock was purchased at an average price of $94.24 per share, for a total transaction of $499,472.00. Following the completion of the transaction, the executive vice president now directly owns 14,527 shares in the company, valued at approximately $1,369,024.48. This trade represents a 57.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Bank of America cut their target price on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Susquehanna dropped their price target on shares of ConocoPhillips from $120.00 to $114.00 and set a "positive" rating for the company in a research note on Monday, May 12th. UBS Group reduced their price objective on shares of ConocoPhillips from $116.00 to $111.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Citigroup lowered their price target on ConocoPhillips from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $109.00 price objective (up previously from $103.00) on shares of ConocoPhillips in a research note on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average price target of $121.30.

About ConocoPhillips

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.