Empowered Funds LLC Grows Stock Holdings in ConocoPhillips (NYSE:COP)

Empowered Funds LLC grew its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,878 shares of the energy producer's stock after purchasing an additional 20,899 shares during the period. ConocoPhillips makes up approximately 0.5% of Empowered Funds LLC's investment portfolio, making the stock its 23rd biggest position. Empowered Funds LLC's holdings in ConocoPhillips were worth $31,255,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new position in shares of ConocoPhillips in the 3rd quarter worth $26,000. Stephens Consulting LLC increased its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock worth $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips during the third quarter valued at approximately $31,000. Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. Finally, Fairway Wealth LLC boosted its holdings in shares of ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer's stock worth $36,000 after purchasing an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on COP shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Susquehanna raised their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a report on Friday, November 1st. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Scotiabank cut their target price on ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 10th. Finally, Mizuho lifted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $137.63.

ConocoPhillips Stock Performance

Shares of ConocoPhillips stock traded down $0.60 during midday trading on Friday, hitting $112.32. The company had a trading volume of 4,097,842 shares, compared to its average volume of 5,882,573. The company has a fifty day simple moving average of $107.88 and a 200 day simple moving average of $111.90. The stock has a market cap of $129.27 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.91 and a beta of 1.21. 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 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results 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 business 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 business's quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company posted $2.16 earnings per share. As a group, analysts predict that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared 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 represents a $3.12 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio 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.