Nwam LLC Makes New $483,000 Investment in ConocoPhillips (NYSE:COP)

Nwam LLC bought a new stake in shares of ConocoPhillips (NYSE:COP - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,587 shares of the energy producer's stock, valued at approximately $483,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in shares of ConocoPhillips during the second quarter valued at approximately $30,021,000. Alpha DNA Investment Management LLC boosted its holdings in shares of ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock valued at $1,879,000 after buying an additional 7,490 shares in the last quarter. Prospera Financial Services Inc grew its position in shares of ConocoPhillips by 23.6% in the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock worth $7,488,000 after buying an additional 13,595 shares during the period. Pacer Advisors Inc. increased its stake in shares of ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock worth $482,996,000 after acquiring an additional 4,504,653 shares in the last quarter. Finally, TCW Group Inc. lifted its position in ConocoPhillips by 37.8% during the 2nd quarter. TCW Group Inc. now owns 30,026 shares of the energy producer's stock valued at $3,434,000 after acquiring an additional 8,231 shares during the period. Hedge funds and other institutional investors own 82.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada restated an "outperform" rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. Finally, Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating for the company in a report on Monday, September 30th. Six 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's stock. According to MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target of $137.63.

ConocoPhillips Stock Performance

Shares of NYSE:COP traded down $5.72 during trading on Monday, hitting $106.03. The company's stock had a trading volume of 23,442,023 shares, compared to its average volume of 5,981,170. The company has a 50-day moving average of $108.91 and a 200-day moving average of $111.23. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market cap of $122.03 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18.

ConocoPhillips (NYSE:COP - Get Free Report) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. ConocoPhillips's quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.16 earnings per share. On average, sell-side analysts expect that ConocoPhillips will post 7.78 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.94%. This is a positive change from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips's dividend payout ratio is currently 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.