ConocoPhillips $COP Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 71.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,029 shares of the energy producer’s stock after acquiring an additional 12,090 shares during the period. 1832 Asset Management L.P.’s holdings in ConocoPhillips were worth $2,605,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of COP. Financial Network Wealth Advisors LLC grew its stake in ConocoPhillips by 341.5% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 287 shares of the energy producer’s stock valued at $30,000 after purchasing an additional 222 shares in the last quarter. Stone House Investment Management LLC purchased a new position in shares of ConocoPhillips during the 1st quarter valued at approximately $31,000. Bogart Wealth LLC grew its position in shares of ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares in the last quarter. Activest Wealth Management increased its stake in shares of ConocoPhillips by 249.5% in the second quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock worth $29,000 after buying an additional 232 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its holdings in ConocoPhillips by 418.6% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 363 shares of the energy producer’s stock valued at $38,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on COP. Capital One Financial raised their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a report on Friday, October 3rd. Susquehanna reduced their price target on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Wall Street Zen raised ConocoPhillips from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Wells Fargo & Company initiated coverage on ConocoPhillips in a report on Friday, October 17th. They set an “equal weight” rating and a $100.00 target price on the stock. Finally, Wolfe Research reiterated an “outperform” rating and issued a $131.00 target price on shares of ConocoPhillips in a research report on Thursday, November 6th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $114.77.

ConocoPhillips Trading Up 0.7%

Shares of NYSE COP opened at $93.73 on Friday. ConocoPhillips has a 12-month low of $79.88 and a 12-month high of $106.20. The company has a market cap of $115.82 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 2.10 and a beta of 0.32. The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $89.54 and its 200 day simple moving average is $91.78.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a return on equity of 13.64% and a net margin of 14.25%.The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. Equities research analysts expect that ConocoPhillips will post 8.16 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were given a $0.84 dividend. The ex-dividend date was Monday, November 17th. This represents a $3.36 annualized dividend and a yield of 3.6%. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is 47.52%.

Insiders Place Their Bets

In other news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction on Monday, November 10th. The stock was purchased at an average cost of $86.68 per share, with a total value of $499,970.24. Following the purchase, the director directly owned 5,768 shares of the company’s stock, valued at approximately $499,970.24. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by corporate insiders.

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.