Morse Asset Management Inc Takes Position in ConocoPhillips (NYSE:COP)

Morse Asset Management Inc purchased a new stake in ConocoPhillips (NYSE:COP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,650 shares of the energy producer's stock, valued at approximately $805,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Unigestion Holding SA increased its position in ConocoPhillips by 1.1% in the 3rd quarter. Unigestion Holding SA now owns 225,307 shares of the energy producer's stock valued at $23,718,000 after buying an additional 2,378 shares in the last quarter. Soltis Investment Advisors LLC grew its stake in ConocoPhillips by 1.1% in the third quarter. Soltis Investment Advisors LLC now owns 14,076 shares of the energy producer's stock valued at $1,482,000 after acquiring an additional 148 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of ConocoPhillips by 7.9% during the third quarter. TD Private Client Wealth LLC now owns 19,274 shares of the energy producer's stock valued at $2,029,000 after acquiring an additional 1,414 shares in the last quarter. Brown Financial Advisors raised its position in shares of ConocoPhillips by 9.9% during the third quarter. Brown Financial Advisors now owns 12,266 shares of the energy producer's stock worth $1,291,000 after purchasing an additional 1,105 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of ConocoPhillips by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 24,733,928 shares of the energy producer's stock worth $2,601,639,000 after purchasing an additional 924,289 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Truist Financial decreased their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, September 30th. Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a research report on Thursday, October 10th. Evercore ISI reiterated an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Wells Fargo & Company increased their price objective on ConocoPhillips from $131.00 to $134.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $139.18.

ConocoPhillips Stock Performance

ConocoPhillips stock traded down $1.06 during trading on Thursday, hitting $101.13. The stock had a trading volume of 4,023,065 shares, compared to its average volume of 6,007,620. The company has a quick ratio of 1.16, a current ratio of 1.30 and a debt-to-equity ratio of 0.34. The stock's 50 day moving average is $108.26 and its two-hundred day moving average is $109.92. ConocoPhillips has a 1 year low of $100.97 and a 1 year high of $135.18. The stock has a market cap of $116.39 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18.

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 for the quarter, topping the consensus estimate of $1.68 by $0.10. The company 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 firm's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. As a group, analysts predict that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

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