Cambridge Trust Co. Lowers Position in ConocoPhillips (NYSE:COP)

Cambridge Trust Co. trimmed its position in shares of ConocoPhillips (NYSE:COP) by 56.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,397 shares of the energy producer’s stock after selling 4,489 shares during the quarter. Cambridge Trust Co.’s holdings in ConocoPhillips were worth $394,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Investment Counsel Inc purchased a new stake in shares of ConocoPhillips in the third quarter valued at approximately $228,000. Columbia Trust Co 01012016 increased its stake in ConocoPhillips by 1.2% during the 4th quarter. Columbia Trust Co 01012016 now owns 9,463 shares of the energy producer’s stock worth $1,098,000 after buying an additional 112 shares in the last quarter. Raymond James & Associates raised its holdings in shares of ConocoPhillips by 1.5% during the fourth quarter. Raymond James & Associates now owns 1,563,044 shares of the energy producer’s stock valued at $181,422,000 after acquiring an additional 23,572 shares during the last quarter. Syon Capital LLC purchased a new position in shares of ConocoPhillips in the third quarter valued at approximately $2,262,000. Finally, PFG Investments LLC acquired a new stake in shares of ConocoPhillips in the third quarter worth approximately $233,000. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on COP shares. Barclays initiated coverage on ConocoPhillips in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $158.00 price objective for the company. Raymond James lowered their target price on shares of ConocoPhillips from $140.00 to $137.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. 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 research note on Thursday, March 28th. UBS Group increased their price objective on ConocoPhillips from $138.00 to $143.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Susquehanna cut their target price on shares of ConocoPhillips from $152.00 to $133.00 and set a “positive” rating on the stock in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling at ConocoPhillips

In other news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total transaction of $1,536,246.00. Following the completion of the sale, the executive vice president now directly owns 14,522 shares in the company, valued at approximately $1,836,161.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Nicholas G. Olds sold 12,150 shares of ConocoPhillips stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $126.44, for a total value of $1,536,246.00. Following the transaction, the executive vice president now directly owns 14,522 shares in the company, valued at $1,836,161.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Michael Lance sold 607,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $125.91, for a total value of $76,427,370.00. Following the completion of the sale, the chief executive officer now directly owns 6,780 shares in the company, valued at approximately $853,669.80. The disclosure for this sale can be found here. Insiders have sold a total of 700,775 shares of company stock valued at $87,615,169 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

ConocoPhillips Stock Down 0.4 %

COP opened at $127.81 on Friday. The stock’s fifty day moving average is $120.20 and its 200-day moving average is $117.09. ConocoPhillips has a one year low of $95.70 and a one year high of $135.18. The company has a market capitalization of $150.36 billion, a PE ratio of 14.11, a P/E/G ratio of 2.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.29 and a current ratio of 1.43.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $14.47 billion. ConocoPhillips had a net margin of 18.71% and a return on equity of 22.08%. During the same period in the prior year, the company earned $2.71 EPS. On average, equities analysts predict that ConocoPhillips will post 9.35 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Monday, February 19th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.44%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Thursday, February 15th. ConocoPhillips’s payout ratio is presently 25.61%.

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.