Natixis Advisors LLC Reduces Stock Position in ConocoPhillips (NYSE:COP)

Natixis Advisors LLC lowered its holdings in shares of ConocoPhillips (NYSE:COP - Free Report) by 1.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,736,854 shares of the energy producer's stock after selling 30,975 shares during the period. Natixis Advisors LLC owned about 0.15% of ConocoPhillips worth $182,855,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of COP. Vicus Capital grew its position in shares of ConocoPhillips by 3.7% in the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer's stock valued at $302,000 after buying an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its stake in ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer's stock worth $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp grew its holdings in ConocoPhillips by 2.4% during the 2nd quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer's stock worth $462,000 after acquiring an additional 96 shares during the period. First Hawaiian Bank raised its position in shares of ConocoPhillips by 0.3% in the 2nd quarter. First Hawaiian Bank now owns 36,739 shares of the energy producer's stock worth $4,202,000 after acquiring an additional 97 shares in the last quarter. Finally, Bank OZK lifted its stake in shares of ConocoPhillips by 1.6% in the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer's stock valued at $715,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company's stock.

ConocoPhillips Stock Performance

Shares of COP traded down $0.60 on Friday, reaching $112.32. 4,124,037 shares of the company's stock traded hands, compared to its average volume of 5,882,573. The stock's 50 day simple moving average is $108.01 and its two-hundred day simple moving average is $111.78. The stock has a market cap of $129.27 billion, a PE ratio of 13.36, a PEG ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results 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 firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same period last year, the firm posted $2.16 EPS. The business's revenue was down 8.5% compared to the same quarter last year. On average, analysts forecast that ConocoPhillips will post 7.8 earnings per share 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 $0.78 dividend. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.78%. ConocoPhillips's dividend payout ratio is presently 37.10%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Mizuho raised their target price on ConocoPhillips from $129.00 to $132.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Wells Fargo & Company reaffirmed a "sector perform" rating on shares of ConocoPhillips in a research note on Friday, October 18th. Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $137.63.

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.