Commonwealth Equity Services LLC Acquires 10,588 Shares of ConocoPhillips (NYSE:COP)

Commonwealth Equity Services LLC boosted its stake in ConocoPhillips (NYSE:COP - Free Report) by 2.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 389,958 shares of the energy producer's stock after buying an additional 10,588 shares during the quarter. Commonwealth Equity Services LLC's holdings in ConocoPhillips were worth $41,055,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Harbor Investment Advisory LLC increased its position in shares of ConocoPhillips by 2.2% during the 1st quarter. Harbor Investment Advisory LLC now owns 9,697 shares of the energy producer's stock valued at $1,234,000 after purchasing an additional 212 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of ConocoPhillips by 5.6% in the first quarter. First Trust Direct Indexing L.P. now owns 26,083 shares of the energy producer's stock worth $3,320,000 after buying an additional 1,390 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in shares of ConocoPhillips in the second quarter valued at approximately $30,021,000. EP Wealth Advisors LLC grew its stake in ConocoPhillips by 19.1% during the first quarter. EP Wealth Advisors LLC now owns 28,601 shares of the energy producer's stock valued at $3,640,000 after acquiring an additional 4,578 shares in the last quarter. Finally, Norden Group LLC increased its holdings in ConocoPhillips by 2,634.9% during the 1st quarter. Norden Group LLC now owns 124,440 shares of the energy producer's stock worth $15,838,000 after acquiring an additional 119,890 shares during the period. 82.36% of the stock is currently owned by institutional investors.

ConocoPhillips Stock Down 0.6 %

Shares of COP traded down $0.68 on Monday, reaching $104.99. The stock had a trading volume of 4,365,103 shares, compared to its average volume of 5,920,625. The firm has a market capitalization of $121.92 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a 50-day simple moving average of $108.90 and a 200-day simple moving average of $114.48. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts' expectations of $14.96 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. Sell-side analysts predict that ConocoPhillips will post 7.99 EPS for the current year.

ConocoPhillips Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were issued a dividend of $0.58 per share. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a dividend yield of 2.21%. ConocoPhillips's payout ratio is 25.86%.

Wall Street Analyst Weigh In

Several brokerages have commented on COP. Wolfe Research assumed coverage on shares of ConocoPhillips in a report on Thursday, July 18th. They issued an "outperform" rating and a $145.00 price target for the company. Wells Fargo & Company restated a "sector perform" rating on shares of ConocoPhillips in a research report on Friday. Barclays lowered their price target on ConocoPhillips from $156.00 to $135.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. StockNews.com cut shares of ConocoPhillips from a "buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.94.

Insider Transactions at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company's stock.

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.