Qsemble Capital Management LP Has $3.56 Million Stock Position in ConocoPhillips (NYSE:COP)

Qsemble Capital Management LP raised its position in ConocoPhillips (NYSE:COP) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,787 shares of the energy producer’s stock after buying an additional 1,183 shares during the quarter. Qsemble Capital Management LP’s holdings in ConocoPhillips were worth $3,557,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in COP. Private Trust Co. NA raised its holdings in ConocoPhillips by 5.0% in the 3rd quarter. Private Trust Co. NA now owns 8,006 shares of the energy producer’s stock valued at $843,000 after buying an additional 382 shares during the last quarter. Diversified LLC lifted its position in shares of ConocoPhillips by 9.0% in the 3rd quarter. Diversified LLC now owns 2,428 shares of the energy producer’s stock worth $256,000 after purchasing an additional 200 shares during the period. Truvestments Capital LLC acquired a new stake in shares of ConocoPhillips during the third quarter worth $31,000. Brown Brothers Harriman & Co. increased its position in ConocoPhillips by 12.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,616 shares of the energy producer’s stock valued at $591,000 after buying an additional 631 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in ConocoPhillips by 6.6% in the third quarter. Loomis Sayles & Co. L P now owns 1,953 shares of the energy producer’s stock worth $206,000 after acquiring an additional 121 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on COP shares. Mizuho boosted their price objective on ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays upped their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial reduced their price objective on shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a report on Monday, September 30th. 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 report on Wednesday, September 18th. Finally, Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, ConocoPhillips presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Stock Performance

Shares of NYSE COP traded down $2.74 during midday trading on Monday, hitting $109.01. 2,210,686 shares of the stock traded hands, compared to its average volume of 5,888,066. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The firm has a market capitalization of $125.46 billion, a P/E ratio of 13.29, a PEG ratio of 0.91 and a beta of 1.21. The firm has a 50-day moving average of $108.91 and a two-hundred day moving average of $111.23.

ConocoPhillips (NYSE:COP) last posted its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.10. The company 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%. ConocoPhillips’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 earnings per share. On average, equities analysts forecast that ConocoPhillips will post 7.78 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a dividend of $0.78 per share. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Friday, November 8th. ConocoPhillips’s dividend payout ratio is currently 37.10%.

About ConocoPhillips

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.