Los Angeles Capital Management LLC trimmed its stake in ConocoPhillips (NYSE:COP - Free Report) by 85.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,021 shares of the energy producer's stock after selling 111,271 shares during the period. Los Angeles Capital Management LLC's holdings in ConocoPhillips were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also added to or reduced their stakes in the company. Values First Advisors Inc. bought a new stake in ConocoPhillips during the 3rd quarter valued at $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips in the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd purchased a new stake in shares of ConocoPhillips in the 2nd quarter worth approximately $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer's stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on COP shares. Scotiabank lowered their target price on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. BMO Capital Markets lifted their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. Barclays increased their price target 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. StockNews.com lowered shares of ConocoPhillips from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, Sanford C. Bernstein reduced their price target on ConocoPhillips from $147.00 to $132.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 17th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and an average price target of $137.47.
Check Out Our Latest Report on COP
ConocoPhillips Stock Performance
Shares of COP stock traded up $1.10 on Thursday, hitting $112.92. The company had a trading volume of 4,389,091 shares, compared to its average volume of 5,890,533. The firm has a market cap of $129.96 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 0.90 and a beta of 1.21. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a 50-day moving average price of $107.77 and a 200-day moving average price of $111.90. 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 issued 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. The business's revenue was down 8.5% on a year-over-year basis. As a group, equities research analysts predict 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 given a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. ConocoPhillips's dividend payout ratio (DPR) is 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.
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