ConocoPhillips (NYSE:COP) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of ConocoPhillips (NYSE:COP - Free Report) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,474,270 shares of the energy producer's stock after purchasing an additional 32,948 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of ConocoPhillips worth $155,211,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in COP. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC boosted its stake in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer's stock worth $29,000 after buying an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in ConocoPhillips in the 3rd quarter valued at $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips in the 3rd quarter worth $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of ConocoPhillips during the 2nd quarter worth $35,000. 82.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COP shares. Royal Bank of Canada reissued an "outperform" rating and issued a $140.00 price objective on shares of ConocoPhillips in a report on Friday, September 13th. Evercore ISI restated an "outperform" rating and set a $165.00 price target on shares of ConocoPhillips in a report on Friday, December 6th. Barclays lifted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Morgan Stanley started coverage on ConocoPhillips in a research report on Monday. They issued an "overweight" rating and a $128.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on ConocoPhillips from $131.00 to $134.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $136.71.

Insider Activity

In other news, Director Arjun N. Murti acquired 2,500 shares of ConocoPhillips stock in a transaction dated Friday, December 20th. The shares were acquired at an average cost of $95.87 per share, for a total transaction of $239,675.00. Following the acquisition, the director now owns 21,500 shares of the company's stock, valued at $2,061,205. This trade represents a 13.16 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director R A. Walker bought 10,400 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were purchased at an average price of $97.80 per share, with a total value of $1,017,120.00. Following the purchase, the director now owns 38,000 shares of the company's stock, valued at approximately $3,716,400. This represents a 37.68 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.34% of the company's stock.

ConocoPhillips Stock Down 0.1 %

Shares of COP stock traded down $0.06 during trading on Friday, reaching $95.12. The company's stock had a trading volume of 29,540,166 shares, compared to its average volume of 6,158,532. ConocoPhillips has a 1-year low of $94.23 and a 1-year high of $135.18. The stock's 50-day moving average price is $106.27 and its 200 day moving average price is $109.09. The company has a market capitalization of $109.47 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 0.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company's quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were issued a dividend of $0.78 per share. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 3.28%. ConocoPhillips's dividend payout ratio is 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.