Kornitzer Capital Management Inc. KS Has $56.21 Million Stock Position in ConocoPhillips (NYSE:COP)

Kornitzer Capital Management Inc. KS decreased its position in ConocoPhillips (NYSE:COP) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 533,883 shares of the energy producer’s stock after selling 9,786 shares during the period. ConocoPhillips makes up 1.0% of Kornitzer Capital Management Inc. KS’s portfolio, making the stock its 18th largest position. Kornitzer Capital Management Inc. KS’s holdings in ConocoPhillips were worth $56,207,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Price T Rowe Associates Inc. MD lifted its position in ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after acquiring an additional 8,479,963 shares in the last quarter. Capital International Investors lifted its position in ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock valued at $2,705,059,000 after acquiring an additional 1,856,085 shares in the last quarter. Legal & General Group Plc lifted its position in ConocoPhillips by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 9,900,596 shares of the energy producer’s stock valued at $1,132,430,000 after acquiring an additional 438,241 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in ConocoPhillips by 2.0% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 5,709,604 shares of the energy producer’s stock valued at $653,065,000 after acquiring an additional 109,885 shares in the last quarter. Finally, Boston Partners lifted its position in ConocoPhillips by 10.3% in the 1st quarter. Boston Partners now owns 4,451,796 shares of the energy producer’s stock valued at $567,111,000 after acquiring an additional 415,878 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Price Performance

Shares of ConocoPhillips stock traded down $1.14 on Thursday, reaching $112.49. 595,613 shares of the stock were exchanged, compared to its average volume of 5,889,747. The firm’s 50 day moving average is $107.81 and its 200-day moving average is $112.53. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market cap of $129.47 billion, a PE ratio of 13.51, a P/E/G ratio of 0.89 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, beating the consensus estimate of $1.68 by $0.10. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.79 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 2.77%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Ratings Changes

Several equities research analysts recently commented on COP shares. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Sanford C. Bernstein cut their price objective on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Mizuho boosted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Barclays boosted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

Insider Activity

In other news, Director Timothy A. Leach sold 55,500 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the sale, the director now directly owns 455,909 shares in the company, valued at $49,288,321.99. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

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.