Strengthening Families & Communities LLC Acquires 1,655 Shares of ConocoPhillips (NYSE:COP)

by · The Cerbat Gem

Strengthening Families & Communities LLC raised its holdings in ConocoPhillips (NYSE:COP – Free Report) by 11.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,403 shares of the energy producer’s stock after buying an additional 1,655 shares during the period. Strengthening Families & Communities LLC’s holdings in ConocoPhillips were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its stake in shares of ConocoPhillips by 0.3% in the third quarter. Thrivent Financial for Lutherans now owns 1,210,124 shares of the energy producer’s stock valued at $127,402,000 after buying an additional 3,877 shares in the last quarter. Claro Advisors LLC lifted its stake in shares of ConocoPhillips by 23.5% in the third quarter. Claro Advisors LLC now owns 4,215 shares of the energy producer’s stock valued at $444,000 after buying an additional 803 shares in the last quarter. Concord Asset Management LLC VA lifted its stake in shares of ConocoPhillips by 11.7% in the third quarter. Concord Asset Management LLC VA now owns 19,091 shares of the energy producer’s stock valued at $2,010,000 after buying an additional 1,998 shares in the last quarter. Tower Bridge Advisors lifted its stake in shares of ConocoPhillips by 24.7% in the third quarter. Tower Bridge Advisors now owns 7,479 shares of the energy producer’s stock valued at $787,000 after buying an additional 1,481 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC bought a new position in shares of ConocoPhillips during the third quarter valued at about $410,000. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Down 0.5 %

Shares of ConocoPhillips stock opened at $112.32 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $108.01 and its two-hundred day simple moving average is $111.59. The company has a market cap of $129.27 billion, a P/E ratio of 13.36, a PEG ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 12-month low of $101.29 and a 12-month high of $135.18.

ConocoPhillips (NYSE:COP – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.16 EPS. Research analysts anticipate that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 2.78%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on COP. UBS Group dropped their price target on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, ConocoPhillips currently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

Get Our Latest Stock Analysis on ConocoPhillips

ConocoPhillips Company Profile

(Free Report)

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.

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