First Bancorp Inc ME Decreases Stock Holdings in ConocoPhillips (NYSE:COP)

First Bancorp Inc ME lessened its stake in shares of ConocoPhillips (NYSE:COP) by 4.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,732 shares of the energy producer’s stock after selling 177 shares during the period. First Bancorp Inc ME’s holdings in ConocoPhillips were worth $475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of COP. Dark Forest Capital Management LP purchased a new position in ConocoPhillips during the third quarter valued at approximately $247,000. Cary Street Partners Investment Advisory LLC lifted its stake in ConocoPhillips by 25.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 11,365 shares of the energy producer’s stock worth $1,361,000 after purchasing an additional 2,275 shares during the last quarter. Eagle Asset Management Inc. raised its holdings in shares of ConocoPhillips by 0.9% in the third quarter. Eagle Asset Management Inc. now owns 30,704 shares of the energy producer’s stock valued at $3,678,000 after buying an additional 285 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in ConocoPhillips by 4.5% in the third quarter. Parkside Financial Bank & Trust now owns 6,184 shares of the energy producer’s stock valued at $741,000 after acquiring an additional 268 shares during the period. Finally, Operose Advisors LLC boosted its holdings in ConocoPhillips by 426.8% during the third quarter. Operose Advisors LLC now owns 1,001 shares of the energy producer’s stock worth $120,000 after buying an additional 811 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on COP shares. Morgan Stanley raised their price objective on ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Truist Financial increased their target price on ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, June 3rd. Barclays boosted their price objective on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, StockNews.com raised ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.18.

ConocoPhillips Trading Down 1.1 %

Shares of COP stock traded down $1.32 during trading hours on Wednesday, reaching $113.67. 4,320,289 shares of the stock were exchanged, compared to its average volume of 5,694,492. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 12.80, a price-to-earnings-growth ratio of 2.05 and a beta of 1.22. The company’s 50-day moving average price is $119.17 and its 200-day moving average price is $117.57. ConocoPhillips has a 12-month low of $99.35 and a 12-month high of $135.18. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. The business had revenue of $14.48 billion during the quarter, compared to analysts’ expectations of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. As a group, equities analysts anticipate that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s payout ratio is 26.27%.

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.