Norway Savings Bank Sells 136 Shares of ConocoPhillips (NYSE:COP)

Norway Savings Bank trimmed its position in shares of ConocoPhillips (NYSE:COP) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 18,973 shares of the energy producer’s stock after selling 136 shares during the quarter. Norway Savings Bank’s holdings in ConocoPhillips were worth $1,997,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Richardson Capital Management LLC bought a new position in ConocoPhillips during the 1st quarter valued at approximately $31,000. Ruedi Wealth Management Inc. boosted its stake in shares of ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares during the period. Valued Wealth Advisors LLC raised its stake in ConocoPhillips by 45.8% in the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock worth $33,000 after buying an additional 82 shares in the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the second quarter worth about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Barclays reduced their price objective on ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group decreased their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein reduced their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.12.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Down 3.0 %

COP traded down $3.23 on Tuesday, hitting $106.24. The company had a trading volume of 2,265,043 shares, compared to its average volume of 5,926,375. The stock has a market capitalization of $124.25 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.88 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a fifty day moving average price of $109.16 and a 200-day moving average price of $115.34. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analyst estimates of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.84 earnings per share. Analysts predict that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

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.