Mutual Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 52.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,557 shares of the energy producer’s stock after buying an additional 2,267 shares during the period. Mutual Advisors LLC’s holdings in ConocoPhillips were worth $374,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in ConocoPhillips by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 90,335,159 shares of the energy producer’s stock valued at $5,510,444,000 after acquiring an additional 269,794 shares during the last quarter. BlackRock Inc. grew its holdings in ConocoPhillips by 4.0% during the 2nd quarter. BlackRock Inc. now owns 79,994,496 shares of the energy producer’s stock valued at $4,879,663,000 after purchasing an additional 3,103,095 shares during the last quarter. Macquarie Group Ltd. grew its holdings in ConocoPhillips by 5.7% during the 2nd quarter. Macquarie Group Ltd. now owns 11,246,886 shares of the energy producer’s stock valued at $686,060,000 after purchasing an additional 602,772 shares during the last quarter. Invesco Ltd. grew its holdings in ConocoPhillips by 8.6% during the 2nd quarter. Invesco Ltd. now owns 9,448,755 shares of the energy producer’s stock valued at $576,376,000 after purchasing an additional 749,531 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ConocoPhillips by 3.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,411,179 shares of the energy producer’s stock valued at $391,082,000 after purchasing an additional 237,116 shares during the last quarter. Institutional investors and hedge funds own 71.45% of the company’s stock.
Several brokerages recently commented on COP. HSBC reiterated a “neutral” rating and set a $59.00 price target on shares of ConocoPhillips in a report on Tuesday. Barclays began coverage on shares of ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 price target on the stock. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Wednesday, July 17th. Goldman Sachs Group set a $67.00 price target on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of ConocoPhillips in a report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. ConocoPhillips has an average rating of “Buy” and a consensus target price of $70.40.
ConocoPhillips (NYSE:COP) last released its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $10.09 billion during the quarter, compared to analysts’ expectations of $7.06 billion. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. During the same period in the previous year, the company earned $1.36 EPS. As a group, equities research analysts anticipate that ConocoPhillips will post 3.62 EPS for the current 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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.86%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s payout ratio is 37.09%.
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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