Wilmington Savings Fund Society FSB Lowers Stock Position in ConocoPhillips (NYSE:COP)

Wilmington Savings Fund Society FSB decreased its stake in ConocoPhillips (NYSE:COP - Free Report) by 39.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,529 shares of the energy producer's stock after selling 46,023 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in ConocoPhillips were worth $7,320,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC boosted its holdings in 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 purchased a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new position in ConocoPhillips in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.36% of the company's stock.

ConocoPhillips Stock Up 0.7 %

Shares of NYSE COP traded up $0.73 during trading on Friday, hitting $101.64. The stock had a trading volume of 3,021,539 shares, compared to its average volume of 6,003,351. ConocoPhillips has a 12 month low of $100.58 and a 12 month high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The company has a market capitalization of $116.98 billion, a PE ratio of 12.00, a PEG ratio of 0.84 and a beta of 1.18. The firm has a fifty day moving average of $108.03 and a two-hundred day moving average of $109.85.

ConocoPhillips (NYSE:COP - Get Free Report) last posted its 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. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business's revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.16 EPS. As a group, equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 11th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from ConocoPhillips's previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. ConocoPhillips's dividend payout ratio is presently 37.10%.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Evercore ISI reissued an "outperform" rating and issued a $165.00 target price on shares of ConocoPhillips in a report on Friday, December 6th. JPMorgan Chase & Co. upgraded shares of ConocoPhillips from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $120.00 to $123.00 in a research report on Thursday, December 5th. Scotiabank lowered their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating on the stock in a report on Thursday, October 10th. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Finally, Barclays upped 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. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, ConocoPhillips currently has an average rating of "Moderate Buy" and a consensus target price of $139.18.

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.