Lake Street Advisors Group LLC Grows Stake in ConocoPhillips (NYSE:COP)

Lake Street Advisors Group LLC grew its position in ConocoPhillips (NYSE:COP) by 2.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,297 shares of the energy producer’s stock after acquiring an additional 172 shares during the period. Lake Street Advisors Group LLC’s holdings in ConocoPhillips were worth $874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of ConocoPhillips by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,192,580 shares of the energy producer’s stock valued at $4,097,473,000 after buying an additional 8,479,963 shares during the period. Capital International Investors lifted its stake in shares of ConocoPhillips by 9.6% in the 1st quarter. Capital International Investors now owns 21,252,822 shares of the energy producer’s stock worth $2,705,059,000 after acquiring an additional 1,856,085 shares during the period. International Assets Investment Management LLC lifted its stake in shares of ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after acquiring an additional 1,194,434 shares during the period. Clearbridge Investments LLC lifted its stake in shares of ConocoPhillips by 46.0% in the first quarter. Clearbridge Investments LLC now owns 3,219,929 shares of the energy producer’s stock valued at $409,833,000 after purchasing an additional 1,015,158 shares during the period. Finally, TD Asset Management Inc raised its position in ConocoPhillips by 34.7% during the first quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after acquiring an additional 712,062 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays lowered their price target on shares of ConocoPhillips from $156.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. BMO Capital Markets boosted their target price on shares of 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 shares of ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Scotiabank dropped their target price on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a report on Thursday, October 10th. Six equities research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $136.94.

ConocoPhillips Stock Up 0.2 %

COP opened at $104.53 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $122.25 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The stock’s fifty day simple moving average is $108.60 and its 200 day simple moving average is $114.14. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.02. The firm had revenue of $14.14 billion for the quarter, compared to analysts’ expectations of $14.96 billion. ConocoPhillips had a return on equity of 20.81% and a net margin of 18.18%. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 EPS. As a group, research analysts expect that ConocoPhillips will post 7.95 earnings per share for the current year.

ConocoPhillips Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Monday, August 12th. ConocoPhillips’s dividend payout ratio (DPR) is presently 26.27%.

Insider Activity at ConocoPhillips

In other news, Director Timothy A. Leach sold 55,500 shares of ConocoPhillips stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares of the company’s stock, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

ConocoPhillips Company 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.