Rockland Trust Co. Buys Shares of 4,956 ConocoPhillips $COP

Rockland Trust Co. acquired a new stake in shares of ConocoPhillips (NYSE:COP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,956 shares of the energy producer’s stock, valued at approximately $469,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Prospera Financial Services Inc grew its stake in shares of ConocoPhillips by 11.5% in the third quarter. Prospera Financial Services Inc now owns 100,538 shares of the energy producer’s stock worth $9,512,000 after acquiring an additional 10,396 shares during the period. Profund Advisors LLC boosted its stake in shares of ConocoPhillips by 1.0% in the 3rd quarter. Profund Advisors LLC now owns 44,549 shares of the energy producer’s stock worth $4,214,000 after buying an additional 452 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in ConocoPhillips by 1.8% during the third quarter. Linden Thomas Advisory Services LLC now owns 14,069 shares of the energy producer’s stock valued at $1,331,000 after acquiring an additional 249 shares during the last quarter. REAP Financial Group LLC lifted its holdings in ConocoPhillips by 13.2% in the third quarter. REAP Financial Group LLC now owns 2,233 shares of the energy producer’s stock valued at $211,000 after acquiring an additional 261 shares during the period. Finally, Legacy Financial Strategies LLC purchased a new position in shares of ConocoPhillips in the third quarter worth approximately $247,000. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COP. Sanford C. Bernstein dropped their price target on shares of ConocoPhillips from $116.00 to $98.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Citigroup boosted their price objective on ConocoPhillips from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Bank of America reaffirmed an “underperform” rating and set a $102.00 price target on shares of ConocoPhillips in a report on Friday, January 16th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets increased their price target on ConocoPhillips from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday. Seventeen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $114.78.

Insider Activity

In other news, CEO Ryan Michael Lance sold 500,708 shares of ConocoPhillips stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the sale, the chief executive officer directly owned 325,972 shares of the company’s stock, valued at approximately $30,152,410. The trade was a 60.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

ConocoPhillips Trading Down 1.1%

ConocoPhillips stock opened at $107.50 on Wednesday. ConocoPhillips has a 1 year low of $79.88 and a 1 year high of $108.89. The firm’s 50 day moving average price is $97.24 and its 200-day moving average price is $93.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.30 and a quick ratio of 1.14. The stock has a market cap of $132.84 billion, a P/E ratio of 16.96 and a beta of 0.32.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, February 5th. The energy producer reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.21). The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.35 billion. ConocoPhillips had a net margin of 12.98% and a return on equity of 11.90%. The business’s revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.98 earnings per share. On average, equities analysts predict that ConocoPhillips will post 8.16 earnings per share for the current fiscal year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.84 per share. The ex-dividend date is Wednesday, February 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.1%. ConocoPhillips’s dividend payout ratio (DPR) is presently 53.00%.

ConocoPhillips Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.