Capital Performance Advisors LLP Invests $60,000 in ConocoPhillips (NYSE:COP)

Capital Performance Advisors LLP purchased a new position in ConocoPhillips (NYSE:COP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 573 shares of the energy producer’s stock, valued at approximately $60,000.

Several other hedge funds have also added to or reduced their stakes in COP. Susquehanna Fundamental Investments LLC acquired a new stake in ConocoPhillips during the 1st quarter worth $3,526,000. TCI Wealth Advisors Inc. acquired a new stake in ConocoPhillips during the 1st quarter worth $207,000. Atomi Financial Group Inc. raised its stake in ConocoPhillips by 6.1% during the 1st quarter. Atomi Financial Group Inc. now owns 6,798 shares of the energy producer’s stock worth $865,000 after buying an additional 393 shares during the period. Sei Investments Co. raised its stake in ConocoPhillips by 1.3% during the 1st quarter. Sei Investments Co. now owns 549,846 shares of the energy producer’s stock worth $69,983,000 after buying an additional 6,902 shares during the period. Finally, Choate Investment Advisors raised its stake in ConocoPhillips by 3.0% during the 1st quarter. Choate Investment Advisors now owns 68,480 shares of the energy producer’s stock worth $8,716,000 after buying an additional 2,001 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Insider Transactions at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 owns 455,909 shares in the company, valued at $49,288,321.99. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Wolfe Research assumed coverage on ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Mizuho lifted their price target on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of ConocoPhillips in a research note 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and an average price target of $137.47.

ConocoPhillips Trading Down 0.0 %

ConocoPhillips stock opened at $111.59 on Friday. ConocoPhillips has a 52 week low of $101.29 and a 52 week 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 stock has a market capitalization of $128.43 billion, a P/E ratio of 13.27, a PEG ratio of 0.93 and a beta of 1.21. The stock has a 50-day simple moving average of $107.73 and a 200 day simple moving average of $112.40.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the company posted $2.16 earnings per share. ConocoPhillips’s quarterly revenue was down 8.5% on a year-over-year basis. Analysts expect that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s payout ratio is currently 27.59%.

About ConocoPhillips

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.