ConocoPhillips $COP Stock Position Increased by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. boosted its position in shares of ConocoPhillips (NYSE:COP) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,443 shares of the energy producer’s stock after buying an additional 7,420 shares during the quarter. Cardinal Capital Management Inc.’s holdings in ConocoPhillips were worth $12,433,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of COP. Howard Hughes Medical Institute bought a new position in shares of ConocoPhillips during the 2nd quarter valued at about $25,000. Bogart Wealth LLC lifted its stake in ConocoPhillips by 136.8% during the second quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock valued at $28,000 after purchasing an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in ConocoPhillips by 249.5% during 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 in the last quarter. BNP Paribas bought a new stake in ConocoPhillips during the second quarter worth approximately $33,000. Finally, Nemes Rush Group LLC grew its position in ConocoPhillips by 38.7% in the second quarter. Nemes Rush Group LLC now owns 419 shares of the energy producer’s stock worth $38,000 after buying an additional 117 shares during the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William H. Mcraven purchased 5,768 shares of the business’s stock in a transaction dated Monday, November 10th. The stock was bought 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on COP shares. Royal Bank Of Canada increased their price objective on ConocoPhillips from $113.00 to $118.00 and gave the company an “outperform” rating in a research report on Monday, October 13th. Susquehanna reduced their target price on ConocoPhillips to $113.00 and set a “positive” rating for the company in a report on Monday, October 20th. Barclays cut their price objective on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 price target on shares of ConocoPhillips in a research report on Monday, November 24th. Nineteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $114.54.

ConocoPhillips Stock Performance

Shares of COP opened at $94.25 on Tuesday. The company has a market capitalization of $116.47 billion, a PE ratio of 13.33, a PEG ratio of 2.16 and a beta of 0.32. 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 company’s 50 day moving average price is $89.56 and its 200 day moving average price is $92.23. ConocoPhillips has a 52 week low of $79.88 and a 52 week high of $106.20.

ConocoPhillips (NYSE:COP) last issued its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. ConocoPhillips had a net margin of 14.25% and a return on equity of 13.64%. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.51 billion. During the same quarter last year, the business posted $1.78 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

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

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.