ConocoPhillips (NYSE:COP) Shares Acquired by Portfolio Design Labs LLC

Portfolio Design Labs LLC lifted its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 79.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,803 shares of the energy producer's stock after acquiring an additional 14,042 shares during the quarter. ConocoPhillips accounts for approximately 0.9% of Portfolio Design Labs LLC's portfolio, making the stock its 25th largest holding. Portfolio Design Labs LLC's holdings in ConocoPhillips were worth $3,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in ConocoPhillips during the first quarter worth about $194,000. Vident Advisory LLC grew its position in ConocoPhillips by 5.4% during the first quarter. Vident Advisory LLC now owns 24,998 shares of the energy producer's stock worth $3,182,000 after buying an additional 1,291 shares during the period. EntryPoint Capital LLC acquired a new position in ConocoPhillips during the first quarter worth about $46,000. Delap Wealth Advisory LLC acquired a new position in ConocoPhillips during the first quarter worth about $267,000. Finally, CreativeOne Wealth LLC lifted its holdings in shares of ConocoPhillips by 32.1% in the first quarter. CreativeOne Wealth LLC now owns 8,856 shares of the energy producer's stock valued at $1,127,000 after purchasing an additional 2,150 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COP shares. BMO Capital Markets upped their price target on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Truist Financial decreased their target price on shares of ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, September 30th. Wells Fargo & Company restated a "sector perform" rating on shares of ConocoPhillips in a research report on Friday, October 18th. JPMorgan Chase & Co. restated a "neutral" rating and set a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $140.00 target price on shares of ConocoPhillips in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, ConocoPhillips presently has an average rating of "Moderate Buy" and a consensus target price of $137.63.

ConocoPhillips Stock Up 0.3 %

Shares of NYSE:COP traded up $0.34 during midday trading on Wednesday, hitting $113.43. 4,035,211 shares of the company's stock traded hands, compared to its average volume of 5,867,627. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18. The company has a market cap of $130.55 billion, a PE ratio of 13.45, a P/E/G ratio of 0.92 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm's fifty day moving average price is $108.35 and its two-hundred day moving average price is $111.47.

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. On average, equities research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.75%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. ConocoPhillips's payout ratio is presently 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.