Norway Savings Bank Has $2.36 Million Stake in ConocoPhillips (NYSE:COP)

Norway Savings Bank grew its holdings in ConocoPhillips (NYSE:COP) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,518 shares of the energy producer’s stock after buying an additional 677 shares during the quarter. Norway Savings Bank’s holdings in ConocoPhillips were worth $2,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in shares of ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after purchasing an additional 4,726,952 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in ConocoPhillips by 512.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,737,026 shares of the energy producer’s stock valued at $433,757,000 after acquiring an additional 3,127,165 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of ConocoPhillips by 78.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 4,611,763 shares of the energy producer’s stock valued at $535,287,000 after acquiring an additional 2,023,263 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of ConocoPhillips by 13,905.3% in the 4th quarter. International Assets Investment Management LLC now owns 1,114,261 shares of the energy producer’s stock valued at $129,332,000 after purchasing an additional 1,106,305 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of ConocoPhillips by 29.3% in the 4th quarter. Pacer Advisors Inc. now owns 3,422,834 shares of the energy producer’s stock worth $397,288,000 after purchasing an additional 776,107 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.4 %

Shares of COP opened at $114.38 on Friday. The firm’s 50-day simple moving average is $118.30 and its 200 day simple moving average is $117.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $133.77 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, May 2nd. The energy producer reported $2.03 EPS for the quarter, beating the consensus estimate of $1.99 by $0.04. The company had revenue of $14.48 billion for the quarter, compared to the consensus estimate of $14.72 billion. ConocoPhillips had a return on equity of 20.85% and a net margin of 18.40%. On average, analysts forecast that ConocoPhillips will post 8.89 earnings per share for the current year.

ConocoPhillips Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is currently 26.27%.

Wall Street Analysts Forecast Growth

COP has been the topic of several analyst reports. Wells Fargo & Company increased their target price on ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Piper Sandler raised their price target on ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Barclays increased their target price on ConocoPhillips from $158.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Susquehanna upped their target price on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Finally, Scotiabank lifted their price target on ConocoPhillips from $120.00 to $135.00 and gave the company a “sector perform” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ConocoPhillips has a consensus rating of “Moderate Buy” and an average target price of $144.18.

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.