ConocoPhillips (NYSE:COP) Shares Bought by Ascent Group LLC

Ascent Group LLC raised its stake in ConocoPhillips (NYSE:COP) by 54.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,246 shares of the energy producer’s stock after purchasing an additional 10,623 shares during the period. Ascent Group LLC’s holdings in ConocoPhillips were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Values First Advisors Inc. acquired a new stake in shares of ConocoPhillips during the 3rd quarter worth about $26,000. Stephens Consulting LLC raised its position 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 acquiring an additional 104 shares in the last quarter. Reston Wealth Management LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $31,000. Truvestments Capital LLC acquired a new position in ConocoPhillips during the third quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new position in ConocoPhillips during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Stock Up 0.9 %

ConocoPhillips stock opened at $108.34 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market capitalization of $124.69 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.89 and a beta of 1.21. ConocoPhillips has a fifty-two week low of $101.29 and a fifty-two week high of $135.18. The stock’s fifty day moving average is $108.77 and its two-hundred day moving average is $110.72.

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 the consensus estimate of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.16 earnings per share. Analysts predict that ConocoPhillips will post 7.76 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company 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 $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.88%. ConocoPhillips’s dividend payout ratio is 37.10%.

Analyst Upgrades and Downgrades

Several research firms have commented on COP. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. BMO Capital Markets lifted their price target on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Truist Financial cut their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Mizuho lifted their price target on ConocoPhillips from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Susquehanna lifted their target price on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $137.63.

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.