Independence Bank of Kentucky Boosts Position in ConocoPhillips (NYSE:COP)

Independence Bank of Kentucky raised its holdings in shares of ConocoPhillips (NYSE:COP) by 15.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,662 shares of the energy producer’s stock after buying an additional 632 shares during the period. Independence Bank of Kentucky’s holdings in ConocoPhillips were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Total Investment Management Inc. purchased a new stake in ConocoPhillips during the 1st quarter worth $207,000. Astoria Portfolio Advisors LLC. raised its position in ConocoPhillips by 4.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock valued at $291,000 after purchasing an additional 85 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of ConocoPhillips by 3.0% during the first quarter. Financial Management Professionals Inc. now owns 5,578 shares of the energy producer’s stock worth $710,000 after purchasing an additional 161 shares in the last quarter. Norway Savings Bank boosted its position in shares of ConocoPhillips by 3.8% in the first quarter. Norway Savings Bank now owns 18,518 shares of the energy producer’s stock worth $2,357,000 after buying an additional 677 shares during the period. Finally, Capital Insight Partners LLC grew its stake in shares of ConocoPhillips by 21.5% in the first quarter. Capital Insight Partners LLC now owns 5,457 shares of the energy producer’s stock valued at $695,000 after buying an additional 966 shares in the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COP has been the topic of several recent research reports. Susquehanna boosted their price target on ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Piper Sandler boosted their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. StockNews.com raised shares of ConocoPhillips from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Argus upgraded ConocoPhillips to a “strong-buy” rating in a research note on Friday, June 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average target price of $144.18.

ConocoPhillips Trading Up 0.4 %

NYSE:COP opened at $114.38 on Friday. The company has a market cap of $133.77 billion, a PE ratio of 12.95, a P/E/G ratio of 2.04 and a beta of 1.22. The business’s 50 day moving average is $118.30 and its two-hundred day moving average is $117.58. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 52 week low of $99.35 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, May 2nd. The energy producer reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.04. The firm had revenue of $14.48 billion for 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%. On average, analysts predict that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s dividend payout ratio (DPR) is presently 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.