ING Groep NV lowered its stake in ConocoPhillips (NYSE:COP - Free Report) by 97.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 36,401 shares of the energy producer's stock after selling 1,669,021 shares during the quarter. ING Groep NV's holdings in ConocoPhillips were worth $3,832,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in COP. EP Wealth Advisors LLC raised its holdings in ConocoPhillips by 19.1% in the 1st quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer's stock worth $3,640,000 after purchasing an additional 4,578 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $30,021,000. Alpha DNA Investment Management LLC grew its stake in shares of ConocoPhillips by 83.8% in the second quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock worth $1,879,000 after acquiring an additional 7,490 shares during the last quarter. TCW Group Inc. grew its position in ConocoPhillips by 37.8% during the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer's stock valued at $3,434,000 after purchasing an additional 8,231 shares during the last quarter. Finally, Doheny Asset Management CA purchased a new stake in shares of ConocoPhillips during the second quarter valued at approximately $815,000. Hedge funds and other institutional investors own 82.36% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently commented on COP. BMO Capital Markets lifted their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Susquehanna upped their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research report on Friday, November 1st. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Scotiabank decreased their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. Finally, UBS Group dropped their price objective on ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $137.63.
Check Out Our Latest Analysis on COP
ConocoPhillips Trading Down 0.5 %
Shares of NYSE COP traded down $0.60 during trading hours on Friday, hitting $112.32. 4,124,037 shares of the company traded hands, compared to its average volume of 5,882,573. The stock has a market capitalization of $129.27 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.91 and a beta of 1.21. The company's 50 day moving average price is $108.01 and its 200 day moving average price is $111.78. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The business 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%. The business's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 earnings per share. On average, equities research analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal 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. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.78%. ConocoPhillips's dividend payout ratio is currently 37.10%.
About ConocoPhillips
(
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.
Further Reading
Before you consider ConocoPhillips, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ConocoPhillips wasn't on the list.
While ConocoPhillips currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
