ConocoPhillips $COP Shares Bought by Gradient Investments LLC

Gradient Investments LLC grew its position in ConocoPhillips (NYSE:COP) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 251,280 shares of the energy producer’s stock after purchasing an additional 10,120 shares during the period. Gradient Investments LLC’s holdings in ConocoPhillips were worth $23,769,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. The Goldman Sachs Group lowered their price target on ConocoPhillips from $111.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, October 17th. Barclays decreased their target price on ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Wells Fargo & Company began coverage on shares of ConocoPhillips in a report on Friday, October 17th. They issued an “equal weight” rating and a $100.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of ConocoPhillips from $112.00 to $102.00 and set an “overweight” rating on the stock in a report on Monday, December 8th. Finally, Wall Street Zen raised shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Nineteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, ConocoPhillips has an average rating of “Moderate Buy” and a consensus price target of $114.08.

ConocoPhillips Trading Down 3.7%

Shares of COP opened at $90.92 on Wednesday. ConocoPhillips has a 52-week low of $79.88 and a 52-week high of $106.20. The stock has a market cap of $112.35 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 2.14 and a beta of 0.32. The firm’s fifty day moving average is $89.48 and its two-hundred day moving average is $92.27. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 0.35.

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

ConocoPhillips Increases Dividend

The firm 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 is a positive change from ConocoPhillips’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 dividend on an annualized basis and a yield of 3.7%. ConocoPhillips’s dividend payout ratio is 47.52%.

Insider Buying and Selling at ConocoPhillips

In related news, Director William H. Mcraven purchased 5,768 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was acquired at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by corporate insiders.

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.