Eastern Bank Has $19.18 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Eastern Bank increased its position in ConocoPhillips (NYSE:COP) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,281 shares of the energy producer’s stock after buying an additional 233 shares during the period. Eastern Bank’s holdings in ConocoPhillips were worth $19,184,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $27,000. West Branch Capital LLC boosted its stake in ConocoPhillips by 87.8% during the 4th quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. RVW Wealth LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $28,000. Fairfield Bush & CO. acquired a new position in ConocoPhillips during the 1st quarter valued at about $31,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in ConocoPhillips by 63.1% during the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock valued at $34,000 after purchasing an additional 111 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP traded down $0.63 during trading on Monday, reaching $132.89. The stock had a trading volume of 2,475,879 shares, compared to its average volume of 5,578,034. The business has a 50-day moving average of $116.79 and a 200-day moving average of $116.39. ConocoPhillips has a one year low of $95.70 and a one year high of $134.02. The stock has a market cap of $156.33 billion, a PE ratio of 14.72, a PEG ratio of 2.91 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. The firm had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $14.47 billion. During the same period last year, the firm earned $2.71 earnings per share. As a group, equities research analysts anticipate that ConocoPhillips will post 9.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Monday, February 19th were paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, February 15th. ConocoPhillips’s dividend payout ratio (DPR) is 25.61%.

Insider Activity

In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Ryan Michael Lance sold 607,000 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at $853,669.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William L. Jr. Bullock sold 45,200 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $123.32, for a total transaction of $5,574,064.00. Following the completion of the sale, the chief financial officer now owns 44,153 shares of the company’s stock, valued at $5,444,947.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 700,775 shares of company stock valued at $87,615,169. 0.37% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on COP shares. UBS Group lifted their price target on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Susquehanna dropped their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a research report on Friday, January 26th. Mizuho reissued a “neutral” rating and set a $139.00 target price (up previously from $132.00) on shares of ConocoPhillips in a research report on Friday, March 22nd. Johnson Rice cut shares of ConocoPhillips from an “accumulate” rating to a “hold” rating in a research report on Thursday, December 14th. Finally, Scotiabank lifted their target price on shares of ConocoPhillips from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus target price of $137.88.

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.