Grove Bank & Trust Boosts Stock Holdings in ConocoPhillips (NYSE:COP)

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

Other large investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $26,000. Centricity Wealth Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $27,000. 10Elms LLP purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $28,000. Crowley Wealth Management Inc. purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $32,000. Finally, Marshall Investment Management LLC purchased a new position in shares of ConocoPhillips in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Performance

COP stock opened at $95.03 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.14 and a debt-to-equity ratio of 0.36. The firm has a market cap of $120.13 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.79 and a beta of 0.61. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $118.40. The stock's 50 day simple moving average is $89.16 and its 200 day simple moving average is $95.70.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The energy producer reported $2.09 EPS for the quarter, beating the consensus estimate of $2.05 by $0.04. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. The business had revenue of $16.18 billion during the quarter, compared to analyst estimates of $15.74 billion. During the same period in the previous year, the business posted $2.05 EPS. As a group, equities research analysts predict that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Monday, May 19th. ConocoPhillips's dividend payout ratio (DPR) is presently 39.64%.

Wall Street Analyst Weigh In

COP has been the topic of a number of research reports. Mizuho cut their target price on shares of ConocoPhillips from $127.00 to $125.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Royal Bank of Canada dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Citigroup dropped their price target on shares of ConocoPhillips from $140.00 to $115.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Bank of America dropped their price target on shares of ConocoPhillips from $107.00 to $106.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of ConocoPhillips from $127.00 to $115.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $121.30.

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.

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