ConocoPhillips (NYSE:COP) Shares Bought by Eastern Bank

Eastern Bank raised its position in ConocoPhillips (NYSE:COP) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 187,107 shares of the energy producer’s stock after purchasing an additional 2,292 shares during the period. Eastern Bank’s holdings in ConocoPhillips were worth $19,699,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC increased its stake in ConocoPhillips by 45.8% during the first quarter. Valued Wealth Advisors LLC now owns 261 shares of the energy producer’s stock valued at $33,000 after acquiring an additional 82 shares during the period. Astoria Portfolio Advisors LLC. boosted its holdings in shares of ConocoPhillips by 4.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,232 shares of the energy producer’s stock worth $291,000 after acquiring an additional 85 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of ConocoPhillips by 22.1% in the 1st quarter. Manchester Capital Management LLC now owns 475 shares of the energy producer’s stock worth $60,000 after acquiring an additional 86 shares in the last quarter. Mayfair Advisory Group LLC boosted its holdings in shares of ConocoPhillips by 3.5% in the 1st quarter. Mayfair Advisory Group LLC now owns 2,627 shares of the energy producer’s stock worth $334,000 after acquiring an additional 90 shares in the last quarter. Finally, West Paces Advisors Inc. lifted its holdings in ConocoPhillips by 5.9% during the 1st quarter. West Paces Advisors Inc. now owns 1,659 shares of the energy producer’s stock worth $211,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

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 transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

ConocoPhillips Stock Performance

Shares of COP traded up $0.10 during mid-day trading on Tuesday, hitting $105.09. 2,079,452 shares of the company’s stock were exchanged, compared to its average volume of 5,901,806. The stock’s 50-day simple moving average is $108.90 and its 200-day simple moving average is $114.48. The firm has a market cap of $122.91 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a quick ratio of 1.19, a current ratio of 1.33 and a debt-to-equity ratio of 0.34. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.02. The business had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. On average, equities research analysts expect that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.21%. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Analyst Upgrades and Downgrades

COP has been the subject of several recent research reports. Barclays dropped their target price on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. BMO Capital Markets increased their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research note on Thursday, October 10th. Finally, Susquehanna reduced their price objective on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.94.

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.