ConocoPhillips (NYSE:COP) Stake Raised by Avestar Capital LLC

Avestar Capital LLC lifted its holdings in shares of ConocoPhillips (NYSE:COP) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,605 shares of the energy producer’s stock after buying an additional 226 shares during the period. Avestar Capital LLC’s holdings in ConocoPhillips were worth $1,116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in COP. Waverly Advisors LLC grew its stake in shares of ConocoPhillips by 33.1% in the first quarter. Waverly Advisors LLC now owns 8,131 shares of the energy producer’s stock worth $1,035,000 after purchasing an additional 2,023 shares in the last quarter. Creekmur Asset Management LLC grew its position in ConocoPhillips by 16.2% in the 1st quarter. Creekmur Asset Management LLC now owns 780 shares of the energy producer’s stock valued at $99,000 after buying an additional 109 shares in the last quarter. Plato Investment Management Ltd grew its position in ConocoPhillips by 1,160.0% in the 1st quarter. Plato Investment Management Ltd now owns 11,340 shares of the energy producer’s stock valued at $1,443,000 after buying an additional 10,440 shares in the last quarter. Montchanin Asset Management LLC acquired a new position in ConocoPhillips during the 1st quarter valued at about $1,027,000. Finally, Heartland Bank & Trust Co raised its position in shares of ConocoPhillips by 13.6% during the 1st quarter. Heartland Bank & Trust Co now owns 3,646 shares of the energy producer’s stock worth $464,000 after buying an additional 437 shares in the last quarter. 82.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial lowered their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. BMO Capital Markets upped 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. Susquehanna raised 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Six investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips Stock Performance

Shares of COP opened at $106.80 on Wednesday. The company has a 50-day moving average of $108.89 and a two-hundred day moving average of $111.01. The stock has a market cap of $122.92 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities research analysts expect that ConocoPhillips will post 7.76 earnings per share for the current 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 given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.