ConocoPhillips (NYSE:COP) Shares Acquired by Welch Group LLC

Welch Group LLC lifted its position in shares of ConocoPhillips (NYSE:COP) by 9.3% during the third quarter, Holdings Channel.com reports. The firm owned 10,442 shares of the energy producer’s stock after acquiring an additional 888 shares during the period. Welch Group LLC’s holdings in ConocoPhillips were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in COP. Summit Place Financial Advisors LLC lifted its position in shares of ConocoPhillips by 1.4% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 10,959 shares of the energy producer’s stock valued at $1,154,000 after buying an additional 150 shares in the last quarter. Gemmer Asset Management LLC grew its stake in ConocoPhillips by 8.1% in the 3rd quarter. Gemmer Asset Management LLC now owns 2,170 shares of the energy producer’s stock valued at $228,000 after acquiring an additional 163 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its stake in ConocoPhillips by 29.5% in the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,200 shares of the energy producer’s stock valued at $2,127,000 after acquiring an additional 4,600 shares during the period. First Financial Bankshares Inc grew its stake in ConocoPhillips by 0.8% in the 3rd quarter. First Financial Bankshares Inc now owns 550,045 shares of the energy producer’s stock valued at $57,909,000 after acquiring an additional 4,603 shares during the period. Finally, Sterling Investment Advisors Ltd. grew its stake in ConocoPhillips by 6.8% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 5,341 shares of the energy producer’s stock valued at $562,000 after acquiring an additional 342 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

ConocoPhillips Trading Down 1.7 %

Shares of COP stock traded down $1.81 on Monday, hitting $102.75. 692,625 shares of the stock traded hands, compared to its average volume of 5,861,355. The firm’s 50-day moving average price is $108.47 and its two-hundred day moving average price is $113.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.19 and a current ratio of 1.33. The stock has a market capitalization of $120.17 billion, a PE ratio of 11.84, a PEG ratio of 0.84 and a beta of 1.21. ConocoPhillips has a twelve month low of $101.29 and a twelve month high of $135.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, August 1st. The energy producer reported $1.98 earnings per share for the quarter, beating 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 net margin of 18.18% and a return on equity of 20.81%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, analysts anticipate that ConocoPhillips will post 7.95 EPS for the current year.

ConocoPhillips Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were issued a $0.58 dividend. The ex-dividend date was Monday, August 12th. This represents a $2.32 annualized dividend and a yield of 2.26%. ConocoPhillips’s dividend payout ratio (DPR) is currently 26.27%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of ConocoPhillips from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Susquehanna lowered their target price on shares of ConocoPhillips from $147.00 to $144.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Sanford C. Bernstein lowered their target price on shares of ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 target price on shares of ConocoPhillips in a research note on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Insider Activity at ConocoPhillips

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total value of $6,000,105.00. Following the sale, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is 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.