Thrivent Financial for Lutherans Has $127.40 Million Stock Holdings in ConocoPhillips (NYSE:COP)

Thrivent Financial for Lutherans raised its stake in shares of ConocoPhillips (NYSE:COP) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,210,124 shares of the energy producer’s stock after buying an additional 3,877 shares during the period. Thrivent Financial for Lutherans’ holdings in ConocoPhillips were worth $127,402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of COP. Values First Advisors Inc. acquired a new stake in ConocoPhillips during the third quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of ConocoPhillips during the 3rd quarter valued at about $31,000. Y.D. More Investments Ltd bought a new stake in shares of ConocoPhillips in the 2nd quarter valued at approximately $35,000. Finally, Fairway Wealth LLC increased its holdings in ConocoPhillips by 95.6% in the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after buying an additional 153 shares during the last quarter. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

NYSE COP opened at $112.32 on Friday. The company’s fifty day moving average is $108.01 and its two-hundred day moving average is $111.68. ConocoPhillips has a 52-week low of $101.29 and a 52-week high of $135.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a market capitalization of $129.27 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.92 and a beta of 1.21.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, topping 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 return on equity of 19.53% and a net margin of 17.29%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Susquehanna lifted their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Mizuho lifted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. UBS Group lowered their target price 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. Truist Financial reduced their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 price objective (down previously from $139.00) on shares of ConocoPhillips in a report on Friday, October 11th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips 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.