ConocoPhillips (NYSE:COP) Position Boosted by Kerusso Capital Management LLC

Kerusso Capital Management LLC boosted its holdings in shares of ConocoPhillips (NYSE:COP) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,858 shares of the energy producer’s stock after purchasing an additional 1,434 shares during the period. Kerusso Capital Management LLC’s holdings in ConocoPhillips were worth $2,512,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COP. Tectonic Advisors LLC boosted its position in shares of ConocoPhillips by 2.4% in the 1st quarter. Tectonic Advisors LLC now owns 5,390 shares of the energy producer’s stock valued at $686,000 after purchasing an additional 125 shares during the period. CarsonAllaria Wealth Management Ltd. increased its position in shares of ConocoPhillips by 166.4% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 357 shares of the energy producer’s stock worth $45,000 after acquiring an additional 223 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ConocoPhillips during the first quarter valued at approximately $3,526,000. TCI Wealth Advisors Inc. purchased a new stake in shares of ConocoPhillips in the 1st quarter valued at approximately $207,000. Finally, Atomi Financial Group Inc. boosted its stake in ConocoPhillips by 6.1% in the 1st quarter. Atomi Financial Group Inc. now owns 6,798 shares of the energy producer’s stock worth $865,000 after purchasing an additional 393 shares during the period. 82.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. UBS Group cut their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Sanford C. Bernstein reduced their price target on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Finally, Mizuho increased their target price on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six equities research 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.47.

Insiders Place Their Bets

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were 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 in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

ConocoPhillips Stock Performance

NYSE:COP traded down $0.03 during midday trading on Friday, reaching $111.59. The stock had a trading volume of 5,314,319 shares, compared to its average volume of 5,528,226. 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 has a 1-year low of $101.29 and a 1-year high of $135.18. The firm’s fifty day simple moving average is $107.73 and its 200-day simple moving average is $112.40. The stock has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a PEG ratio of 0.93 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.10. The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 EPS. On average, equities research analysts forecast 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. Investors of record on Monday, November 11th will be paid a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 27.59%.

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.