D.A. Davidson & CO. Purchases 3,060 Shares of ConocoPhillips (NYSE:COP)

D.A. Davidson & CO. lifted its position in ConocoPhillips (NYSE:COP) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 130,517 shares of the energy producer’s stock after buying an additional 3,060 shares during the quarter. D.A. Davidson & CO.’s holdings in ConocoPhillips were worth $13,741,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. West Tower Group LLC acquired a new stake in ConocoPhillips in the 3rd quarter worth approximately $274,000. 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 worth $262,094,000 after buying an additional 46,621 shares during the last quarter. Qsemble Capital Management LP lifted its holdings in shares of ConocoPhillips by 3.6% during the third quarter. Qsemble Capital Management LP now owns 33,787 shares of the energy producer’s stock worth $3,557,000 after buying an additional 1,183 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of ConocoPhillips by 5.0% during the third quarter. Private Trust Co. NA now owns 8,006 shares of the energy producer’s stock worth $843,000 after buying an additional 382 shares during the last quarter. Finally, Diversified LLC lifted its holdings in shares of ConocoPhillips by 9.0% during the third quarter. Diversified LLC now owns 2,428 shares of the energy producer’s stock worth $256,000 after buying an additional 200 shares during the last quarter. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of COP stock opened at $106.80 on Wednesday. The stock’s fifty day moving average is $108.89 and its 200-day moving average is $111.01. 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 stock has a market capitalization of $122.92 billion, a PE ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate of $1.68 by $0.10. The company 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 revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. Equities research analysts expect that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Ratings Changes

A number of research analysts have recently commented on COP shares. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price target (down from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Scotiabank cut their price target on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a report on Thursday, October 10th. Susquehanna upped their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Truist Financial cut their target price on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.