ConocoPhillips $COP Stock Position Raised by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its position in shares of ConocoPhillips (NYSE:COP) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,729 shares of the energy producer’s stock after purchasing an additional 17,231 shares during the quarter. Rakuten Investment Management Inc.’s holdings in ConocoPhillips were worth $27,186,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Third View Private Wealth LLC increased its stake in shares of ConocoPhillips by 34.5% in the third quarter. Third View Private Wealth LLC now owns 4,904 shares of the energy producer’s stock valued at $614,000 after buying an additional 1,257 shares in the last quarter. Provenance Wealth Advisors LLC lifted its position in ConocoPhillips by 6,451.4% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 16,444 shares of the energy producer’s stock worth $2,058,000 after buying an additional 16,193 shares in the last quarter. Lyell Wealth Management LP lifted its position in ConocoPhillips by 4.4% during the 3rd quarter. Lyell Wealth Management LP now owns 14,906 shares of the energy producer’s stock worth $1,865,000 after buying an additional 631 shares in the last quarter. Associated Banc Corp bought a new stake in ConocoPhillips during the 3rd quarter worth about $2,189,000. Finally, Putney Financial Group LLC bought a new stake in ConocoPhillips during the 3rd quarter worth about $63,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Price Performance

Shares of COP stock opened at $144.46 on Wednesday. The firm has a market cap of $173.54 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.43 and a beta of 0.16. ConocoPhillips has a 12 month low of $85.57 and a 12 month high of $154.28. The company has a quick ratio of 1.39, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $136.59 and a 200 day moving average price of $121.52.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, August 6th. The energy producer reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $0.34. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a net margin of 14.22% and a return on equity of 14.72%. The company’s revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 EPS. Research analysts expect that ConocoPhillips will post 11.41 EPS for the current year.

ConocoPhillips Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, August 17th. ConocoPhillips’s payout ratio is 44.44%.

Analyst Ratings Changes

COP has been the subject of several research reports. Weiss Ratings upgraded shares of ConocoPhillips from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Stifel Nicolaus initiated coverage on shares of ConocoPhillips in a research report on Thursday, September 10th. They set a “hold” rating and a $148.00 target price on the stock. Seaport Research Partners initiated coverage on shares of ConocoPhillips in a report on Thursday, September 3rd. They issued a “neutral” rating for the company. Jefferies Financial Group boosted their price objective on shares of ConocoPhillips from $159.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Finally, Zacks Research raised ConocoPhillips from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $145.08.

Insiders Place Their Bets

In related news, SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the transaction, the senior vice president directly owned 9,593 shares in the company, valued at $1,296,493.95. This represents a 49.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.09% of the stock is owned by corporate insiders.

ConocoPhillips Profile

ConocoPhillips (NYSE:COP) is an independent exploration and production company engaged in finding, developing and producing oil, natural gas and natural gas liquids. Unlike integrated energy companies, it primarily focuses on upstream activities rather than operating large refining or retail fuel businesses.

The company’s portfolio includes conventional and unconventional oil and natural gas assets, liquefied natural gas-related interests, oil sands operations and other energy resources.