First Bancorp Inc ME Lowers Holdings in ConocoPhillips (NYSE:COP)

First Bancorp Inc ME lessened its holdings in ConocoPhillips (NYSE:COP) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,732 shares of the energy producer’s stock after selling 177 shares during the quarter. First Bancorp Inc ME’s holdings in ConocoPhillips were worth $475,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Evergreen Capital Management LLC grew its holdings in shares of ConocoPhillips by 0.5% during the third quarter. Evergreen Capital Management LLC now owns 18,944 shares of the energy producer’s stock worth $2,270,000 after buying an additional 89 shares during the last quarter. Adirondack Trust Co. lifted its position in ConocoPhillips by 3.1% in the fourth quarter. Adirondack Trust Co. now owns 2,990 shares of the energy producer’s stock valued at $336,000 after purchasing an additional 90 shares during the period. Greenfield Savings Bank lifted its position in ConocoPhillips by 1.3% in the fourth quarter. Greenfield Savings Bank now owns 7,520 shares of the energy producer’s stock valued at $873,000 after purchasing an additional 94 shares during the period. Relative Value Partners Group LLC lifted its position in ConocoPhillips by 2.2% in the fourth quarter. Relative Value Partners Group LLC now owns 4,511 shares of the energy producer’s stock valued at $524,000 after purchasing an additional 95 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its position in ConocoPhillips by 3.0% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 3,329 shares of the energy producer’s stock valued at $386,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on COP shares. StockNews.com upgraded shares of ConocoPhillips from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Mizuho cut their price objective on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, June 5th. Susquehanna upped their price target on shares of ConocoPhillips from $133.00 to $154.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Piper Sandler upped their target price on shares of ConocoPhillips from $145.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company boosted their price objective on shares of ConocoPhillips from $149.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.18.

ConocoPhillips Stock Down 1.1 %

COP traded down $1.32 during trading on Wednesday, reaching $113.67. The company had a trading volume of 4,320,289 shares, compared to its average volume of 5,694,492. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.35 and a quick ratio of 1.21. ConocoPhillips has a 12 month low of $99.35 and a 12 month high of $135.18. The business’s fifty day moving average price is $119.17 and its 200 day moving average price is $117.57. The company has a market cap of $132.94 billion, a P/E ratio of 12.80, a PEG ratio of 2.05 and a beta of 1.22.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The firm had revenue of $14.48 billion for the quarter, compared to analyst estimates of $14.72 billion. Equities analysts anticipate that ConocoPhillips will post 8.89 EPS for the current year.

ConocoPhillips Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 13th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Friday, May 10th. ConocoPhillips’s dividend payout ratio is presently 26.27%.

ConocoPhillips Company 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.