Arvest Bank Trust Division bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 109,697 shares of the energy producer's stock, valued at approximately $11,549,000.
A number of other institutional investors also recently added to or reduced their stakes in COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock worth $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips in the third quarter valued at $31,000. Truvestments Capital LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Finally, Y.D. More Investments Ltd acquired a new position in ConocoPhillips during the second quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company's stock.
Wall Street Analysts Forecast Growth
COP has been the subject of a number of research analyst reports. Scotiabank cut their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of ConocoPhillips from $131.00 to $134.00 and gave the stock an "overweight" rating in a report on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $139.18.
Read Our Latest Report on COP
ConocoPhillips Stock Down 1.2 %
Shares of NYSE:COP traded down $1.27 on Thursday, reaching $100.92. The company had a trading volume of 5,907,175 shares, compared to its average volume of 6,016,529. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $116.15 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.85 and a beta of 1.18. The stock has a 50-day moving average price of $108.26 and a 200 day moving average price of $109.92. ConocoPhillips has a twelve month low of $100.87 and a twelve month high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips's revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 earnings per share. On average, equities analysts expect that ConocoPhillips will post 7.76 EPS for the current year.
ConocoPhillips Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, November 8th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.
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.
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