Mutual Advisors LLC increased its holdings in shares of ConocoPhillips (NYSE:COP) by 52.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,557 shares of the energy producer’s stock after purchasing an additional 2,267 shares during the quarter. Mutual Advisors LLC’s holdings in ConocoPhillips were worth $374,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild & Co Wealth Management UK Ltd acquired a new stake in ConocoPhillips in the second quarter valued at approximately $27,000. Valley National Advisers Inc. increased its holdings in shares of ConocoPhillips by 64.9% in the second quarter. Valley National Advisers Inc. now owns 503 shares of the energy producer’s stock worth $31,000 after acquiring an additional 198 shares in the last quarter. Towerpoint Wealth LLC bought a new stake in shares of ConocoPhillips in the second quarter worth about $32,000. Manchester Financial Inc. bought a new stake in shares of ConocoPhillips in the second quarter worth about $34,000. Finally, AllSquare Wealth Management LLC increased its holdings in shares of ConocoPhillips by 1,018.0% in the second quarter. AllSquare Wealth Management LLC now owns 559 shares of the energy producer’s stock worth $34,000 after acquiring an additional 509 shares in the last quarter. 71.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE COP traded down $0.76 during trading hours on Friday, reaching $58.79. 969,285 shares of the stock were exchanged, compared to its average volume of 5,979,278. The firm has a market capitalization of $64.20 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.70 and a beta of 1.05. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.40 and a current ratio of 2.56. ConocoPhillips has a 52 week low of $50.13 and a 52 week high of $71.01. The stock’s fifty day simple moving average is $56.54 and its 200 day simple moving average is $58.11.
ConocoPhillips (NYSE:COP) last announced its earnings results on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.04. ConocoPhillips had a return on equity of 13.54% and a net margin of 21.44%. The company had revenue of $10.09 billion for the quarter, compared to analyst estimates of $7.06 billion. During the same quarter last year, the company earned $1.36 earnings per share. Research analysts predict that ConocoPhillips will post 3.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, October 16th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. ConocoPhillips’s dividend payout ratio (DPR) is 37.09%.
Several research analysts have recently weighed in on the company. Barclays started coverage on ConocoPhillips in a research report on Monday, August 19th. They set an “overweight” rating and a $79.00 price objective for the company. UBS Group raised ConocoPhillips from a “neutral” rating to a “buy” rating and increased their price target for the company from $70.00 to $75.00 in a research report on Monday, September 16th. Goldman Sachs Group set a $67.00 price target on ConocoPhillips and gave the company a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Co reissued a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, October 15th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $68.00 price objective on shares of ConocoPhillips in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $70.40.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
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