ConocoPhillips (NYSE:COP) Shares Acquired by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. increased its position in ConocoPhillips (NYSE:COP) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,884 shares of the energy producer’s stock after purchasing an additional 594 shares during the period. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $13,043,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of COP. Novak & Powell Financial Services Inc. bought a new position in ConocoPhillips during the fourth quarter worth $262,000. EP Wealth Advisors LLC boosted its holdings in shares of ConocoPhillips by 2.6% in the 4th quarter. EP Wealth Advisors LLC now owns 24,023 shares of the energy producer’s stock valued at $2,788,000 after buying an additional 608 shares during the period. Scarborough Advisors LLC grew its position in shares of ConocoPhillips by 5.5% during the 4th quarter. Scarborough Advisors LLC now owns 3,015 shares of the energy producer’s stock valued at $350,000 after buying an additional 156 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in ConocoPhillips during the fourth quarter worth about $78,000. Finally, Northwest Bank & Trust Co bought a new position in ConocoPhillips in the fourth quarter worth about $32,000. 82.36% of the stock is owned by institutional investors.

Insider Activity at ConocoPhillips

In related 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 directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

ConocoPhillips Trading Down 1.2 %

Shares of NYSE:COP opened at $110.49 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market capitalization of $128.31 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.88 and a beta of 1.21. The company has a 50 day moving average price of $109.06 and a 200 day moving average price of $115.55. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, August 1st. The energy producer reported $1.98 EPS for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $14.14 billion during the quarter, compared to the consensus estimate of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. ConocoPhillips’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.02 EPS for the current fiscal year.

ConocoPhillips Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is currently 25.86%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets upped their target price on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Susquehanna lowered their price target on shares of ConocoPhillips from $154.00 to $147.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Mizuho cut their price objective on shares of ConocoPhillips from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Wells Fargo & Company decreased their target price on shares of ConocoPhillips from $150.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned 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 an average price target of $137.12.

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.