Prospera Private Wealth LLC Buys 3,907 Shares of ConocoPhillips (NYSE:COP)

Prospera Private Wealth LLC grew its stake in ConocoPhillips (NYSE:COP) by 221.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,668 shares of the energy producer’s stock after acquiring an additional 3,907 shares during the period. Prospera Private Wealth LLC’s holdings in ConocoPhillips were worth $597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Values First Advisors Inc. bought a new position in ConocoPhillips during the third quarter worth about $26,000. Stephens Consulting LLC increased its position in ConocoPhillips by 69.3% during the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after acquiring an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips during the third quarter worth about $31,000. Y.D. More Investments Ltd bought a new position in ConocoPhillips during the second quarter worth about $35,000. Finally, Fairway Wealth LLC increased its position in ConocoPhillips by 95.6% during the second quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares during the period. 82.36% of the stock is owned by institutional investors.

ConocoPhillips Stock Up 0.3 %

Shares of NYSE COP opened at $113.43 on Thursday. The company has a 50 day simple moving average of $108.57 and a 200 day simple moving average of $111.48. The firm has a market cap of $130.55 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 0.92 and a beta of 1.21. ConocoPhillips has a 1 year low of $101.29 and a 1 year 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.

ConocoPhillips (NYSE:COP) last released its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.97 billion. During the same quarter last year, the business earned $2.16 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. On average, research analysts forecast that ConocoPhillips will post 7.8 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently declared 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 positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. This represents a $3.12 annualized dividend and a yield of 2.75%. ConocoPhillips’s dividend payout ratio (DPR) is presently 37.10%.

Analyst Upgrades and Downgrades

COP has been the topic of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research note on Friday, September 13th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. UBS Group reduced their price objective on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Finally, Barclays increased their price objective on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently 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.