Independence Bank of Kentucky Raises Stake in ConocoPhillips (NYSE:COP)

Independence Bank of Kentucky grew its stake in shares of ConocoPhillips (NYSE:COPFree Report) by 55.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,030 shares of the energy producer’s stock after purchasing an additional 1,440 shares during the quarter. Independence Bank of Kentucky’s holdings in ConocoPhillips were worth $468,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Orion Capital Management LLC purchased a new stake in shares of ConocoPhillips during the third quarter valued at $27,000. West Branch Capital LLC lifted its stake in ConocoPhillips by 87.8% in the fourth quarter. West Branch Capital LLC now owns 231 shares of the energy producer’s stock worth $27,000 after acquiring an additional 108 shares during the period. RVW Wealth LLC purchased a new stake in ConocoPhillips in the third quarter worth about $28,000. West Tower Group LLC purchased a new stake in ConocoPhillips in the second quarter worth about $27,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in ConocoPhillips by 63.1% in the third quarter. Oliver Lagore Vanvalin Investment Group now owns 287 shares of the energy producer’s stock worth $34,000 after acquiring an additional 111 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 1.6 %

Shares of COP stock opened at $130.69 on Wednesday. The stock’s fifty day moving average is $115.53 and its two-hundred day moving average is $116.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43. The firm has a market capitalization of $153.74 billion, a P/E ratio of 14.42, a PEG ratio of 2.92 and a beta of 1.24. ConocoPhillips has a fifty-two week low of $95.70 and a fifty-two week high of $130.84.

ConocoPhillips (NYSE:COPGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The energy producer reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.32. The company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $14.47 billion. ConocoPhillips had a return on equity of 22.08% and a net margin of 18.71%. During the same quarter last year, the firm posted $2.71 EPS. Research analysts expect that ConocoPhillips will post 8.81 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Monday, February 19th were issued a $0.78 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $3.12 dividend on an annualized basis and a yield of 2.39%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 25.61%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of ConocoPhillips from $153.00 to $141.00 and set a “neutral” rating for the company in a research report on Friday, December 8th. Raymond James decreased their price target on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Scotiabank upped their price objective on shares of ConocoPhillips from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. UBS Group upped their price objective on shares of ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley upped their price objective on shares of ConocoPhillips from $123.00 to $129.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.35.

Get Our Latest Research Report on ConocoPhillips

Insider Buying and Selling at ConocoPhillips

In other news, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total transaction of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, VP Christopher P. Delk sold 8,505 shares of ConocoPhillips stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $112.06, for a total transaction of $953,070.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Michael Lance sold 607,000 shares of ConocoPhillips stock in a transaction on Monday, March 25th. The stock was sold at an average price of $125.91, for a total value of $76,427,370.00. Following the transaction, the chief executive officer now owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 700,775 shares of company stock worth $87,615,169. Corporate insiders own 0.37% of the company’s stock.

ConocoPhillips Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for ConocoPhillips (NYSE:COP)

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