Penobscot Investment Management Company Inc. Has $434,000 Stock Holdings in ConocoPhillips (NYSE:COP)

Penobscot Investment Management Company Inc. decreased its holdings in ConocoPhillips (NYSE:COP) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,372 shares of the energy producer’s stock after selling 2,550 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in ConocoPhillips were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Albion Financial Group UT boosted its position in ConocoPhillips by 876.9% during the fourth quarter. Albion Financial Group UT now owns 254 shares of the energy producer’s stock valued at $25,000 after acquiring an additional 228 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in ConocoPhillips in the fourth quarter valued at approximately $26,000. Centricity Wealth Management LLC acquired a new stake in ConocoPhillips in the 4th quarter valued at $27,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Crowley Wealth Management Inc. acquired a new position in ConocoPhillips during the fourth quarter worth $32,000. Institutional investors own 82.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COP shares. Mizuho raised shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $132.00 to $134.00 in a research report on Monday, December 16th. Truist Financial boosted their price objective on ConocoPhillips from $138.00 to $139.00 and gave the stock a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group set a $132.00 target price on ConocoPhillips in a report on Thursday, January 30th. UBS Group decreased their price target on ConocoPhillips from $140.00 to $137.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Finally, Wells Fargo & Company dropped their price objective on ConocoPhillips from $132.00 to $128.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $133.05.

ConocoPhillips Stock Up 0.6 %

Shares of NYSE COP opened at $103.15 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $131.25 billion, a PE ratio of 13.24, a P/E/G ratio of 0.79 and a beta of 1.12. ConocoPhillips has a one year low of $86.81 and a one year high of $135.18. The business’s fifty day moving average price is $99.08 and its 200-day moving average price is $103.31.

ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Thursday, February 6th. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. On average, equities research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Monday, February 17th were paid a $0.78 dividend. The ex-dividend date was Friday, February 14th. This represents a $3.12 annualized dividend and a yield of 3.02%. ConocoPhillips’s dividend payout ratio is currently 40.05%.

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.