Roanoke Asset Management Corp NY Has $2.75 Million Stock Position in ConocoPhillips (NYSE:COP)

Roanoke Asset Management Corp NY boosted its position in shares of ConocoPhillips (NYSE:COP) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,129 shares of the energy producer’s stock after purchasing an additional 403 shares during the period. Roanoke Asset Management Corp NY’s holdings in ConocoPhillips were worth $2,751,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of COP. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter valued at about $26,000. Stephens Consulting LLC raised its holdings in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after buying an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter valued at about $31,000. Ruedi Wealth Management Inc. raised its holdings in ConocoPhillips by 150.0% during the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Finally, Y.D. More Investments Ltd bought a new position in shares of ConocoPhillips in the second quarter worth about $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.6 %

NYSE COP opened at $107.84 on Friday. The firm has a market cap of $125.23 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The stock’s 50 day simple moving average is $107.94 and its 200 day simple moving average is $113.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same period in the prior year, the company earned $2.16 EPS. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be 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 of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.89%. ConocoPhillips’s dividend payout ratio is currently 25.86%.

Analyst Ratings Changes

Several brokerages recently issued reports on COP. Scotiabank lowered their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein cut their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. UBS Group cut their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a report on Friday, September 13th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $126.00 price target (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $137.47.

Insiders Place Their Bets

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the transaction, the director now owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

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.