Pacer Advisors Inc. Has $483 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Pacer Advisors Inc. boosted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 5,422.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,587,729 shares of the energy producer's stock after acquiring an additional 4,504,653 shares during the period. ConocoPhillips accounts for 1.0% of Pacer Advisors Inc.'s holdings, making the stock its 18th biggest position. Pacer Advisors Inc. owned 0.40% of ConocoPhillips worth $482,996,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC grew its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC acquired a new position in ConocoPhillips in the third quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $35,000. Finally, Fairway Wealth LLC increased its position in shares of ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer's stock valued at $36,000 after acquiring an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on COP. Truist Financial cut their price target on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Scotiabank reduced their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a research report on Thursday, October 10th. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. BMO Capital Markets boosted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a research report on Friday, October 4th. Finally, Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a "positive" rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ConocoPhillips currently has a consensus rating of "Moderate Buy" and an average price target of $137.63.

ConocoPhillips Trading Down 1.5 %

Shares of COP stock traded down $1.72 during mid-day trading on Thursday, hitting $111.71. 8,287,971 shares of the company's stock were exchanged, compared to its average volume of 5,897,121. The stock has a market cap of $128.57 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.92 and a beta of 1.21. The stock has a 50-day simple moving average of $108.57 and a two-hundred day simple moving average of $111.48. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. 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 (NYSE:COP - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the firm posted $2.16 EPS. The firm's quarterly revenue was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.8 EPS 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 given a $0.78 dividend. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.79%. ConocoPhillips's dividend payout ratio (DPR) is currently 37.10%.

ConocoPhillips 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.