Farther Finance Advisors LLC Increases Holdings in ConocoPhillips $COP

Farther Finance Advisors LLC raised its holdings in shares of ConocoPhillips (NYSE:COP) by 18.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,680 shares of the energy producer’s stock after acquiring an additional 5,514 shares during the quarter. Farther Finance Advisors LLC’s holdings in ConocoPhillips were worth $3,375,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Howard Hughes Medical Institute purchased a new position in ConocoPhillips in the second quarter valued at approximately $25,000. Bogart Wealth LLC lifted its position in shares of ConocoPhillips by 136.8% during the 2nd quarter. Bogart Wealth LLC now owns 315 shares of the energy producer’s stock worth $28,000 after buying an additional 182 shares during the last quarter. Activest Wealth Management boosted its holdings in shares of ConocoPhillips by 249.5% in the 2nd quarter. Activest Wealth Management now owns 325 shares of the energy producer’s stock valued at $29,000 after buying an additional 232 shares in the last quarter. BNP Paribas purchased a new position in shares of ConocoPhillips in the 2nd quarter valued at $33,000. Finally, Nemes Rush Group LLC raised its stake in ConocoPhillips by 38.7% during the 2nd quarter. Nemes Rush Group LLC now owns 419 shares of the energy producer’s stock worth $38,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 0.9%

Shares of NYSE:COP opened at $91.85 on Thursday. The company has a market cap of $113.50 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.10 and a beta of 0.32. The firm’s 50-day simple moving average is $89.85 and its 200-day simple moving average is $92.49. 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 has a fifty-two week low of $79.88 and a fifty-two week high of $106.20.

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

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.36 annualized dividend and a dividend yield of 3.7%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is 47.52%.

Insider Buying and Selling

In other ConocoPhillips news, Director William H. Mcraven purchased 5,768 shares of the firm’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the purchase, the director directly owned 5,768 shares in the company, valued at $499,970.24. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Michael Lance sold 500,708 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $92.50, for a total value of $46,315,490.00. Following the completion of the transaction, the chief executive officer owned 325,972 shares of the company’s stock, valued at $30,152,410. The trade was a 60.57% decrease in their position. The SEC filing for this sale provides additional information. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

COP has been the subject of several research analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of ConocoPhillips in a report on Monday. BMO Capital Markets decreased their price target on shares of ConocoPhillips from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 15th. Roth Capital lowered their price objective on shares of ConocoPhillips from $108.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 15th. Barclays reduced their target price on shares of ConocoPhillips from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Finally, Royal Bank Of Canada raised their price target on ConocoPhillips from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Monday, October 13th. Nineteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.08.

ConocoPhillips Company Profile

ConocoPhillips (NYSE: COP) is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company’s activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.