ConocoPhillips (NYSE:COP) Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA raised its position in ConocoPhillips (NYSE:COP - Free Report) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,320,905 shares of the energy producer's stock after acquiring an additional 1,418,900 shares during the quarter. Primecap Management Co. CA owned approximately 0.38% of ConocoPhillips worth $454,905,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. EP Wealth Advisors LLC grew its position in shares of ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer's stock worth $3,640,000 after buying an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of ConocoPhillips during the second quarter worth about $30,021,000. Alpha DNA Investment Management LLC grew its position in shares of ConocoPhillips by 83.8% during the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock worth $1,879,000 after buying an additional 7,490 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of ConocoPhillips by 23.6% during the third quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock worth $7,488,000 after buying an additional 13,595 shares in the last quarter. Finally, TCW Group Inc. grew its position in shares of ConocoPhillips by 37.8% during the second quarter. TCW Group Inc. now owns 30,026 shares of the energy producer's stock worth $3,434,000 after buying an additional 8,231 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $113.43 on Thursday. The stock's 50-day moving average is $108.57 and its 200-day moving average is $111.48. The company has a market cap of $130.55 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS 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 return on equity of 19.53% and a net margin of 17.29%. The company's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the business posted $2.16 EPS. Equities analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. ConocoPhillips's dividend payout ratio (DPR) is currently 37.10%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on COP shares. Scotiabank decreased their target price on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research note on Thursday, October 10th. JPMorgan Chase & Co. restated a "neutral" rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Susquehanna boosted their target price on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research note on Friday, November 1st. Finally, Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $137.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.