Franklin Resources Inc. Has $1.47 Billion Position in ConocoPhillips (NYSE:COP)

Franklin Resources Inc. raised its stake in ConocoPhillips (NYSE:COP - Free Report) by 12.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 13,557,351 shares of the energy producer's stock after buying an additional 1,506,599 shares during the quarter. Franklin Resources Inc. owned approximately 1.18% of ConocoPhillips worth $1,469,163,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Values First Advisors Inc. bought a new position in shares of ConocoPhillips in the third quarter worth $26,000. Stephens Consulting LLC lifted its holdings in ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock worth $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at about $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the 3rd quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips during the 2nd quarter worth about $35,000. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on COP shares. Wells Fargo & Company increased their price objective on shares of ConocoPhillips from $131.00 to $134.00 and gave the company an "overweight" rating in a report on Monday. Barclays increased their price target on ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised ConocoPhillips from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $120.00 to $123.00 in a research note on Thursday, December 5th. Mizuho raised their target price on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $139.18.

ConocoPhillips Stock Up 0.1 %

Shares of COP traded up $0.11 during mid-day trading on Friday, reaching $101.02. The company's stock had a trading volume of 6,105,143 shares, compared to its average volume of 6,016,913. The company has a market cap of $116.26 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18. The business has a fifty day moving average of $108.03 and a 200 day moving average of $109.85. 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 1 year low of $100.58 and a 1 year 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 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 analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company posted $2.16 EPS. As a group, analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were given a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.09%. ConocoPhillips's payout ratio is presently 37.10%.

About ConocoPhillips

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.