ConocoPhillips $COP Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of ConocoPhillips (NYSE:COP) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,148,190 shares of the energy producer’s stock after buying an additional 279,625 shares during the period. Vanguard Group Inc. owned 9.58% of ConocoPhillips worth $10,871,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Nordwand Advisors LLC acquired a new position in ConocoPhillips in the second quarter valued at $235,000. Bulltick Wealth Management LLC lifted its holdings in shares of ConocoPhillips by 8.1% in the 2nd quarter. Bulltick Wealth Management LLC now owns 5,213 shares of the energy producer’s stock valued at $468,000 after purchasing an additional 392 shares during the last quarter. Rothschild Investment LLC boosted its position in shares of ConocoPhillips by 1.5% in the 2nd quarter. Rothschild Investment LLC now owns 22,384 shares of the energy producer’s stock valued at $2,009,000 after purchasing an additional 331 shares during the period. Integrated Quantitative Investments LLC acquired a new stake in shares of ConocoPhillips in the 2nd quarter valued at about $497,000. Finally, Financial Gravity Companies Inc. purchased a new position in ConocoPhillips during the 2nd quarter worth approximately $94,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on COP shares. Morgan Stanley lowered their target price on ConocoPhillips from $123.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 14th. Capital One Financial lifted their price objective on shares of ConocoPhillips from $111.00 to $112.00 in a research report on Friday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of ConocoPhillips from $115.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Wall Street Zen upgraded shares of ConocoPhillips from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BMO Capital Markets reduced their target price on shares of ConocoPhillips from $122.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Eighteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.33.

Insider Buying and Selling at ConocoPhillips

In other news, Director William H. Mcraven bought 5,768 shares of ConocoPhillips stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $86.68 per share, for a total transaction of $499,970.24. Following the completion of the acquisition, the director owned 5,768 shares of the company’s stock, valued at $499,970.24. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is currently owned by company insiders.

ConocoPhillips Price Performance

Shares of NYSE:COP opened at $88.95 on Tuesday. ConocoPhillips has a one year low of $79.88 and a one year high of $115.38. The stock has a market cap of $109.92 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.58. The business’s fifty day moving average price is $90.88 and its two-hundred day moving average price is $91.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.27.

ConocoPhillips (NYSE:COP) last announced its earnings results on Thursday, November 6th. The energy producer reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. The firm had revenue of $15.03 billion for the quarter, compared to analyst estimates of $14.51 billion. ConocoPhillips had a net margin of 15.26% and a return on equity of 14.60%. ConocoPhillips’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.78 earnings per share. On average, analysts forecast that ConocoPhillips will post 8.16 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, November 17th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.78. ConocoPhillips’s payout ratio is currently 47.52%.

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.