Invesco LLC Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Invesco LLC boosted its position in ConocoPhillips (NYSE:COP) by 5.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,258 shares of the energy producer’s stock after purchasing an additional 445 shares during the period. Invesco LLC’s holdings in ConocoPhillips were worth $869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in COP. Values First Advisors Inc. purchased a new stake in shares of ConocoPhillips in the third quarter valued at $26,000. Stephens Consulting LLC increased its stake in shares of ConocoPhillips by 69.3% during the 2nd quarter. Stephens Consulting LLC now owns 254 shares of the energy producer’s stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of ConocoPhillips during the 3rd quarter worth about $31,000. Ruedi Wealth Management Inc. boosted its position in shares of ConocoPhillips by 150.0% in the first quarter. Ruedi Wealth Management Inc. now owns 250 shares of the energy producer’s stock worth $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Y.D. More Investments Ltd purchased a new stake in ConocoPhillips in the second quarter valued at approximately $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Timothy A. Leach sold 55,500 shares of the firm’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 transaction, the director now directly owns 455,909 shares in the company, valued at approximately $49,288,321.99. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on COP shares. Mizuho boosted their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Friday. Sanford C. Bernstein dropped their price target on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating for the company in a research note on Wednesday, July 17th. Scotiabank reduced their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets increased their target price on shares of ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Barclays lifted their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

ConocoPhillips Stock Down 1.6 %

NYSE COP traded down $1.70 during trading hours on Friday, reaching $107.84. 7,428,060 shares of the company traded hands, compared to its average volume of 5,908,149. The company has a 50 day moving average of $107.94 and a two-hundred day moving average of $113.02. The stock has a market capitalization of $125.23 billion, a PE ratio of 12.02, a PEG ratio of 0.84 and a beta of 1.21. ConocoPhillips has a 12 month low of $101.29 and a 12 month high of $135.18. The company has a current ratio of 1.33, a quick ratio of 1.19 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last posted 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 20.81% and a net margin of 18.18%. The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same period last year, the firm earned $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, equities analysts expect that ConocoPhillips will post 7.76 earnings per share for the current year.

ConocoPhillips Increases Dividend

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

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.