Gs Investments Inc. grew its stake in ConocoPhillips (NYSE:COP) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,095 shares of the energy producer’s stock after buying an additional 770 shares during the period. Gs Investments Inc.’s holdings in ConocoPhillips were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of ConocoPhillips by 31.2% in the 2nd quarter. Fisher Asset Management LLC now owns 6,647 shares of the energy producer’s stock valued at $463,000 after purchasing an additional 1,579 shares during the last quarter. Bremer Trust National Association grew its position in shares of ConocoPhillips by 21.0% in the 2nd quarter. Bremer Trust National Association now owns 12,295 shares of the energy producer’s stock valued at $856,000 after buying an additional 2,138 shares during the last quarter. Acropolis Investment Management LLC purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $107,000. First National Bank of Omaha grew its position in shares of ConocoPhillips by 44.0% in the 2nd quarter. First National Bank of Omaha now owns 11,096 shares of the energy producer’s stock valued at $772,000 after buying an additional 3,391 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. grew its position in shares of ConocoPhillips by 15.4% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,664,718 shares of the energy producer’s stock valued at $115,896,000 after buying an additional 221,734 shares during the last quarter. 71.72% of the stock is owned by institutional investors.
A number of research analysts recently commented on COP shares. Royal Bank of Canada increased their target price on shares of ConocoPhillips from $82.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, July 23rd. Mizuho reaffirmed a “hold” rating on shares of ConocoPhillips in a research report on Tuesday, July 24th. JPMorgan Chase & Co. increased their target price on shares of ConocoPhillips from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. BMO Capital Markets increased their target price on shares of ConocoPhillips from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Finally, Morgan Stanley increased their target price on shares of ConocoPhillips from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.53.
Shares of NYSE:COP opened at $66.73 on Friday. The firm has a market cap of $80.62 billion, a P/E ratio of 111.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22. The company has a quick ratio of 1.82, a current ratio of 1.99 and a debt-to-equity ratio of 0.46. ConocoPhillips has a 1-year low of $48.97 and a 1-year high of $80.24.
ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, October 25th. The energy producer reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.19. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.48 billion. ConocoPhillips had a net margin of 16.08% and a return on equity of 14.62%. As a group, research analysts expect that ConocoPhillips will post 4.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, October 15th will be paid a dividend of $0.305 per share. The ex-dividend date is Friday, October 12th. This represents a $1.22 dividend on an annualized basis and a yield of 1.83%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.29. ConocoPhillips’s dividend payout ratio is currently 203.33%.
In related news, insider Don E. Jr. Wallette sold 59,432 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $71.87, for a total transaction of $4,271,377.84. Following the completion of the sale, the insider now owns 83,047 shares in the company, valued at approximately $5,968,587.89. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Glenda Mae Schwarz sold 18,882 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $71.15, for a total transaction of $1,343,454.30. Following the sale, the vice president now owns 29,064 shares of the company’s stock, valued at approximately $2,067,903.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,378 shares of company stock valued at $20,769,145. 0.88% of the stock is owned by company insiders.
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ConocoPhillips Company Profile
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. Its portfolio includes North American tight oil and oil sands assets in Canada; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; and an inventory of conventional and unconventional exploration prospects.
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