Larson Financial Group LLC grew its stake in shares of ConocoPhillips (NYSE:COP – Free Report) by 13.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,659 shares of the energy producer’s stock after buying an additional 2,724 shares during the quarter. Larson Financial Group LLC’s holdings in ConocoPhillips were worth $2,491,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Values First Advisors Inc. acquired a new position in shares of ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC lifted its position in ConocoPhillips by 69.3% in the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the 2nd quarter valued at about $35,000. Finally, Fairway Wealth LLC increased its stake in ConocoPhillips by 95.6% in the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock valued at $36,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.
Wall Street Analysts Forecast Growth
COP has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna raised their price objective on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a report on Friday, November 1st. UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Scotiabank dropped their price objective 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $126.00 target price (down previously from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average target price of $137.63.
ConocoPhillips Stock Down 0.1 %
NYSE:COP opened at $111.75 on Monday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock has a market capitalization of $128.61 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The company’s 50-day simple moving average is $108.91 and its 200-day simple moving average is $111.23.
ConocoPhillips (NYSE:COP – Get Free Report) last released its 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. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. ConocoPhillips’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period last year, the business earned $2.16 EPS. On average, equities analysts anticipate that ConocoPhillips will post 7.78 earnings per share 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 $0.78 dividend. The ex-dividend date is 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 2.79%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.
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.
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