IMS Capital Management Purchases 500 Shares of ConocoPhillips (NYSE:COP)

IMS Capital Management grew its position in shares of ConocoPhillips (NYSE:COP) by 20.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,991 shares of the energy producer’s stock after purchasing an additional 500 shares during the quarter. IMS Capital Management’s holdings in ConocoPhillips were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the third quarter valued at about $26,000. Stephens Consulting LLC raised its position in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after purchasing an additional 104 shares during the period. Reston Wealth Management LLC bought a new position in ConocoPhillips in the 3rd quarter worth approximately $31,000. Truvestments Capital LLC bought a new stake in ConocoPhillips during the 3rd quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in ConocoPhillips during the 2nd quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

ConocoPhillips Stock Down 1.3 %

COP opened at $98.27 on Wednesday. ConocoPhillips has a 12 month low of $96.75 and a 12 month high of $135.18. The company has a current ratio of 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $107.21 and its 200-day moving average price is $109.41. The company has a market cap of $113.10 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.83 and a beta of 1.18.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.97 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. On average, equities analysts expect that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 11th were given a $0.78 dividend. This is a boost from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, November 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.17%. ConocoPhillips’s payout ratio is presently 37.10%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on COP. Truist Financial decreased their price objective on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of ConocoPhillips in a research report on Friday, September 13th. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price objective on shares of ConocoPhillips in a research note on Friday, December 6th. Mizuho upgraded shares of ConocoPhillips from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $132.00 to $134.00 in a research note on Monday. Finally, Morgan Stanley began coverage on shares of ConocoPhillips in a research report on Monday. They set an “overweight” rating and a $128.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $139.24.

ConocoPhillips 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.