ConocoPhillips (NYSE:COP) Position Raised by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC grew its stake in ConocoPhillips (NYSE:COP) by 0.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,383 shares of the energy producer’s stock after purchasing an additional 422 shares during the period. ConocoPhillips makes up about 2.7% of Murphy Pohlad Asset Management LLC’s portfolio, making the stock its 3rd biggest position. Murphy Pohlad Asset Management LLC’s holdings in ConocoPhillips were worth $6,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of COP. Values First Advisors Inc. purchased a new stake in ConocoPhillips in the 3rd quarter worth about $26,000. Stephens Consulting LLC raised its holdings in shares of ConocoPhillips by 69.3% in the second quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock worth $29,000 after buying an additional 104 shares during the period. Reston Wealth Management LLC bought a new stake in shares of ConocoPhillips during the 3rd quarter worth approximately $31,000. Ruedi Wealth Management Inc. boosted its holdings in ConocoPhillips by 150.0% during the 1st quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Finally, Y.D. More Investments Ltd bought a new position in ConocoPhillips in the 2nd quarter valued at $35,000. Institutional investors own 82.36% of the company’s stock.

Insider Activity

In related news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 455,909 shares in the company, valued at $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 available through this link. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

COP has been the subject of several research analyst reports. Wolfe Research started coverage on ConocoPhillips in a research report on Thursday, July 18th. They set an “outperform” rating and a $145.00 target price for the company. BMO Capital Markets lifted their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Susquehanna upped their target price on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday. Mizuho lifted their price target on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Sanford C. Bernstein dropped their price objective on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.47.

ConocoPhillips Price Performance

COP opened at $107.84 on Friday. The firm has a market capitalization of $125.23 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.33 and a quick ratio of 1.19. The business’s 50-day moving average is $107.94 and its two-hundred day moving average is $113.02. ConocoPhillips has a 1 year low of $101.29 and a 1 year high of $135.18.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. ConocoPhillips had a net margin of 18.18% and a return on equity of 20.81%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. Research analysts anticipate that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.78 per share. The ex-dividend date is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.89%. ConocoPhillips’s dividend payout ratio is presently 25.86%.

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.