World Investment Advisors LLC Raises Holdings in ConocoPhillips (NYSE:COP)

World Investment Advisors LLC increased its holdings in ConocoPhillips (NYSE:COP - Free Report) by 746.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,928 shares of the energy producer's stock after purchasing an additional 38,740 shares during the quarter. World Investment Advisors LLC's holdings in ConocoPhillips were worth $4,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Alpha DNA Investment Management LLC boosted its position in ConocoPhillips by 83.8% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 16,427 shares of the energy producer's stock valued at $1,879,000 after acquiring an additional 7,490 shares in the last quarter. Prospera Financial Services Inc boosted its position in ConocoPhillips by 23.6% during the 3rd quarter. Prospera Financial Services Inc now owns 71,097 shares of the energy producer's stock valued at $7,488,000 after acquiring an additional 13,595 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of ConocoPhillips by 1.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,489,514 shares of the energy producer's stock valued at $262,094,000 after purchasing an additional 46,621 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of ConocoPhillips by 5,422.3% during the third quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer's stock valued at $482,996,000 after purchasing an additional 4,504,653 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ConocoPhillips by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,096,450 shares of the energy producer's stock valued at $747,114,000 after purchasing an additional 153,944 shares during the last quarter. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock traded up $0.94 during trading on Friday, reaching $101.85. The company had a trading volume of 2,761,837 shares, compared to its average volume of 6,002,791. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The firm's 50-day simple moving average is $108.03 and its 200 day simple moving average is $109.85. The firm has a market capitalization of $117.22 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18. ConocoPhillips has a 52 week low of $100.58 and a 52 week high of $135.18.

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, beating analysts' consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to analysts' expectations of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business's quarterly revenue was down 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. Sell-side analysts forecast that ConocoPhillips will post 7.77 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from ConocoPhillips's previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 3.06%. ConocoPhillips's dividend payout ratio (DPR) is currently 37.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COP. BMO Capital Markets lifted their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an "outperform" rating in a report on Friday, October 4th. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a "positive" rating in a report on Friday, November 1st. Scotiabank lowered their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a "sector perform" rating for the company in a report on Thursday, October 10th. Barclays boosted their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an "overweight" rating in a report on Friday, November 1st. Finally, Truist Financial cut their target price on ConocoPhillips from $145.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of "Moderate Buy" and a consensus price target 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.