Cowa LLC Has $2.11 Million Position in ConocoPhillips (NYSE:COP)

Cowa LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,995 shares of the energy producer’s stock after purchasing an additional 155 shares during the period. ConocoPhillips accounts for approximately 1.0% of Cowa LLC’s holdings, making the stock its 29th biggest holding. Cowa LLC’s holdings in ConocoPhillips were worth $2,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Tectonic Advisors LLC grew its holdings in ConocoPhillips by 2.4% during the first 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 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 357 shares of the energy producer’s stock valued at $45,000 after buying an additional 223 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in ConocoPhillips during the 1st quarter worth $3,526,000. TCI Wealth Advisors Inc. bought a new position in ConocoPhillips during the first quarter worth about $207,000. Finally, Atomi Financial Group Inc. grew its stake in ConocoPhillips by 6.1% in the first quarter. Atomi Financial Group Inc. now owns 6,798 shares of the energy producer’s stock valued at $865,000 after acquiring an additional 393 shares during the period. 82.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. 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 report on Wednesday, July 17th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Barclays upped their target price on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Wolfe Research began coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Buying and Selling

In other ConocoPhillips 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 value of $6,000,105.00. Following the completion of the sale, the director now owns 455,909 shares of the company’s stock, valued at $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 is available at the SEC website. 0.34% of the stock is owned by insiders.

ConocoPhillips Price Performance

NYSE:COP opened at $111.63 on Friday. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18. The stock has a market capitalization of $128.48 billion, a PE ratio of 13.27, a P/E/G ratio of 0.93 and a beta of 1.21. The firm has a fifty day simple moving average of $107.73 and a 200 day simple moving average of $112.40. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last announced 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. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The business had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. During the same quarter in the prior year, the business earned $2.16 EPS. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. On average, research analysts expect that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.79%. ConocoPhillips’s dividend payout ratio is 27.59%.

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.