13,186 Shares in ConocoPhillips (NYSE:COP) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,186 shares of the energy producer's stock, valued at approximately $1,388,000.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. CIBC Asset Management Inc grew its holdings in ConocoPhillips by 4.8% during the 3rd quarter. CIBC Asset Management Inc now owns 262,152 shares of the energy producer's stock valued at $27,599,000 after buying an additional 12,024 shares in the last quarter. Balboa Wealth Partners purchased a new position in shares of ConocoPhillips in the 3rd quarter worth $243,000. Oak Harbor Wealth Partners LLC increased its holdings in shares of ConocoPhillips by 10.8% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 2,050 shares of the energy producer's stock worth $216,000 after buying an additional 200 shares during the last quarter. Sargent Investment Group LLC grew its position in ConocoPhillips by 19.0% in the third quarter. Sargent Investment Group LLC now owns 12,556 shares of the energy producer's stock worth $1,322,000 after acquiring an additional 2,008 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of ConocoPhillips by 3.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 54,299 shares of the energy producer's stock valued at $5,717,000 after purchasing an additional 1,982 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. BMO Capital Markets upped 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. Wells Fargo & Company reissued a "sector perform" rating on shares of ConocoPhillips in a research note on Friday, October 18th. Susquehanna increased 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 raised their target price 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. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $137.63.

ConocoPhillips Price Performance

COP stock traded down $0.60 on Friday, reaching $112.32. 4,097,843 shares of the company's stock were exchanged, compared to its average volume of 5,882,468. 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 has a twelve month low of $101.29 and a twelve month high of $135.18. The stock has a fifty day moving average of $107.88 and a 200-day moving average of $111.90. The firm has a market cap of $129.27 billion, a PE ratio of 13.53, a P/E/G ratio of 0.91 and a beta of 1.21.

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

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is an increase 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 2.78%. ConocoPhillips's dividend payout ratio is presently 37.10%.

ConocoPhillips 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.