LPL Financial LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

LPL Financial LLC boosted its holdings in ConocoPhillips (NYSE:COP - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,021,324 shares of the energy producer's stock after purchasing an additional 30,772 shares during the period. LPL Financial LLC owned approximately 0.09% of ConocoPhillips worth $107,525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vicus Capital raised its position in shares of ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer's stock valued at $302,000 after buying an additional 94 shares during the period. Montag A & Associates Inc. raised its position in ConocoPhillips by 2.5% in the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer's stock valued at $446,000 after purchasing an additional 96 shares during the period. Excalibur Management Corp lifted its stake in shares of ConocoPhillips by 2.4% in the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer's stock valued at $462,000 after purchasing an additional 96 shares during the last quarter. Cypress Capital Group grew its holdings in shares of ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer's stock worth $1,978,000 after purchasing an additional 96 shares during the period. Finally, First Hawaiian Bank increased its position in shares of ConocoPhillips by 0.3% during the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer's stock worth $4,202,000 after purchasing an additional 97 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COP shares. Royal Bank of Canada restated an "outperform" rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Truist Financial decreased their price target on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a report on Monday, September 30th. Barclays increased their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Finally, BMO Capital Markets upped their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. 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 company. According to data from MarketBeat, ConocoPhillips has an average rating of "Moderate Buy" and a consensus target price of $137.63.

ConocoPhillips Trading Down 0.1 %

Shares of NYSE:COP traded down $0.15 during midday trading on Friday, reaching $111.75. The company's stock had a trading volume of 7,516,628 shares, compared to its average volume of 5,905,342. The business has a 50 day moving average price of $108.91 and a 200 day moving average price of $111.40. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18. The firm has a market cap of $128.61 billion, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips's revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 earnings per share. Research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips's payout ratio is 37.10%.

ConocoPhillips 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.