Empirical Finance LLC Acquires 731 Shares of ConocoPhillips (NYSE:COP)

Empirical Finance LLC increased its stake in ConocoPhillips (NYSE:COP) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,942 shares of the energy producer’s stock after purchasing an additional 731 shares during the period. Empirical Finance LLC’s holdings in ConocoPhillips were worth $4,416,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Values First Advisors Inc. bought a new stake in ConocoPhillips in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC boosted its stake in shares of 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 purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of ConocoPhillips during the 3rd quarter valued at $31,000. Y.D. More Investments Ltd purchased a new position in ConocoPhillips in the 2nd quarter worth $35,000. Finally, Fairway Wealth LLC lifted its stake in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after purchasing an additional 153 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

COP has been the topic of a number of recent research reports. Wolfe Research initiated coverage on ConocoPhillips in a research note on Thursday, July 18th. They set an “outperform” rating and a $145.00 price objective on the stock. Susquehanna lifted their price target on ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Truist Financial dropped their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, September 30th. 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. Finally, UBS Group cut their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Price Performance

Shares of COP opened at $113.28 on Friday. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The firm’s 50-day simple moving average is $107.77 and its two-hundred day simple moving average is $111.90. The stock has a market cap of $130.38 billion, a PE ratio of 13.43, a price-to-earnings-growth 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.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the company earned $2.16 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Analysts anticipate that ConocoPhillips will post 7.8 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.75%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio 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.