Meeder Asset Management Inc. lessened its position in ConocoPhillips (NYSE:COP - Free Report) by 83.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,387 shares of the energy producer's stock after selling 22,868 shares during the period. Meeder Asset Management Inc.'s holdings in ConocoPhillips were worth $462,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Values First Advisors Inc. purchased a new position in ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% in the second 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 position in shares of ConocoPhillips in the third quarter worth $31,000. Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $35,000. Finally, Fairway Wealth LLC grew its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer's stock worth $36,000 after buying an additional 153 shares in the last quarter. 82.36% of the stock is owned by institutional investors.
ConocoPhillips Stock Performance
ConocoPhillips stock traded up $0.34 during mid-day trading on Wednesday, reaching $113.43. 4,035,211 shares of the stock traded hands, compared to its average volume of 5,867,627. The stock has a market capitalization of $130.55 billion, a PE ratio of 13.45, 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. The business's 50-day moving average is $108.35 and its 200-day moving average is $111.47. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.
ConocoPhillips (NYSE:COP - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 earnings per share. As a group, sell-side analysts predict that ConocoPhillips will post 7.8 EPS for the current fiscal year.
ConocoPhillips Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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. This represents a $3.12 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, November 8th. ConocoPhillips's payout ratio is presently 37.10%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on COP. Mizuho raised their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Susquehanna upped their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Royal Bank of Canada restated an "outperform" rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank cut their price target on shares of 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 lowered their target price 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 equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.63.
Read Our Latest Stock Analysis on ConocoPhillips
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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