ConocoPhillips (NYSE:COP) Stake Raised by Prospera Financial Services Inc

Prospera Financial Services Inc raised its position in ConocoPhillips (NYSE:COP - Free Report) by 23.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,097 shares of the energy producer's stock after purchasing an additional 13,595 shares during the quarter. Prospera Financial Services Inc's holdings in ConocoPhillips were worth $7,488,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in COP. Price T Rowe Associates Inc. MD grew its position in shares of ConocoPhillips by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer's stock worth $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors raised its holdings in shares of ConocoPhillips by 9.6% during the first quarter. Capital International Investors now owns 21,252,822 shares of the energy producer's stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of ConocoPhillips by 10,634.2% during the third quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer's stock valued at $126,933,000 after buying an additional 1,194,434 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in ConocoPhillips by 19.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer's stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new position in ConocoPhillips during the 2nd quarter valued at $60,050,000. Institutional investors and hedge funds own 82.36% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on COP. Scotiabank cut 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. reiterated a "neutral" rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Finally, BMO Capital Markets lifted their price target 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 given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average target price of $137.63.

ConocoPhillips Trading Down 0.9 %

COP stock traded down $1.00 during midday trading on Tuesday, hitting $112.76. 2,500,628 shares of the company's stock were exchanged, compared to its average volume of 5,863,563. The stock's fifty day moving average price is $108.17 and its 200-day moving average price is $111.53. The company has a market cap of $129.78 billion, a PE ratio of 13.48, 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 quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. Research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a $0.78 dividend. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.77%. ConocoPhillips's dividend payout ratio (DPR) is presently 37.10%.

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.