Advisory Services Network LLC Boosts Stock Position in ConocoPhillips $COP

Advisory Services Network LLC grew its holdings in ConocoPhillips (NYSE:COP) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,250 shares of the energy producer’s stock after purchasing an additional 7,017 shares during the period. Advisory Services Network LLC’s holdings in ConocoPhillips were worth $12,227,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Primecap Management Co. CA lifted its holdings in ConocoPhillips by 66.0% during the 2nd quarter. Primecap Management Co. CA now owns 7,883,455 shares of the energy producer’s stock valued at $707,461,000 after buying an additional 3,135,315 shares in the last quarter. AQR Capital Management LLC increased its position in shares of ConocoPhillips by 190.5% during the first quarter. AQR Capital Management LLC now owns 4,664,408 shares of the energy producer’s stock worth $484,539,000 after acquiring an additional 3,058,505 shares during the period. Ameriprise Financial Inc. raised its stake in shares of ConocoPhillips by 31.4% during the second quarter. Ameriprise Financial Inc. now owns 10,778,664 shares of the energy producer’s stock valued at $966,267,000 after acquiring an additional 2,575,803 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of ConocoPhillips by 145.8% in the second quarter. Assenagon Asset Management S.A. now owns 2,933,286 shares of the energy producer’s stock valued at $263,233,000 after purchasing an additional 1,740,009 shares during the period. Finally, Valeo Financial Advisors LLC grew its stake in ConocoPhillips by 6,156.1% in the second quarter. Valeo Financial Advisors LLC now owns 1,508,169 shares of the energy producer’s stock worth $135,343,000 after purchasing an additional 1,484,062 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ConocoPhillips

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

ConocoPhillips Trading Down 1.2%

ConocoPhillips stock opened at $95.58 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.32. The stock has a market cap of $118.11 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 2.16 and a beta of 0.32. The stock has a 50-day moving average of $89.57 and a two-hundred day moving average of $92.12. ConocoPhillips has a one year low of $79.88 and a one year high of $106.20.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to the consensus estimate of $14.51 billion. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.78 earnings per share. On average, research analysts anticipate that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. This represents a $3.36 annualized dividend and a dividend yield of 3.5%. ConocoPhillips’s payout ratio is presently 47.52%.

Analyst Ratings Changes

COP has been the subject of several research reports. UBS Group upped their target price on ConocoPhillips from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein upped their price objective on shares of ConocoPhillips from $115.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Mizuho increased their target price on shares of ConocoPhillips from $120.00 to $121.00 and gave the stock an “outperform” rating in a report on Friday. The Goldman Sachs Group reduced their price target on shares of ConocoPhillips from $111.00 to $108.00 and set a “buy” rating for the company in a report on Friday, October 17th. Finally, Susquehanna dropped their price objective on shares of ConocoPhillips to $113.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Nineteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.54.

ConocoPhillips Company 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.