Applied Finance Capital Management LLC Buys 317 Shares of ConocoPhillips (NYSE:COP)

Applied Finance Capital Management LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 0.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,895 shares of the energy producer’s stock after buying an additional 317 shares during the quarter. Applied Finance Capital Management LLC’s holdings in ConocoPhillips were worth $23,677,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Values First Advisors Inc. purchased a new stake in ConocoPhillips during the third quarter worth $26,000. Stephens Consulting LLC increased its position in shares of ConocoPhillips by 69.3% in 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 period. Reston Wealth Management LLC acquired a new stake in ConocoPhillips during the 3rd quarter worth about $31,000. Y.D. More Investments Ltd acquired a new stake in ConocoPhillips during the 2nd quarter worth about $35,000. Finally, Fairway Wealth LLC boosted its stake in shares of ConocoPhillips by 95.6% during the 2nd quarter. Fairway Wealth LLC now owns 313 shares of the energy producer’s stock worth $36,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Price Performance

COP opened at $111.63 on Friday. The company has a 50-day moving average of $107.73 and a 200-day moving average of $112.40. The company has a market capitalization of $128.48 billion, a P/E ratio of 13.27, a PEG ratio of 0.93 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 quick ratio of 1.16 and a current ratio of 1.30.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share 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 company had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.97 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Equities analysts expect that ConocoPhillips will post 7.8 EPS for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 2.79%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is presently 27.59%.

Insider Buying and Selling at ConocoPhillips

In other ConocoPhillips news, Director Timothy A. Leach sold 55,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $108.11, for a total transaction of $6,000,105.00. Following the completion of the transaction, the director now directly owns 455,909 shares of the company’s stock, valued at $49,288,321.99. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

COP has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “sector perform” rating on shares of ConocoPhillips in a research note on Friday, October 18th. Wolfe Research initiated coverage on shares of ConocoPhillips in a research note on Thursday, July 18th. They issued an “outperform” rating and a $145.00 price target on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $126.00 target price (down from $139.00) on shares of ConocoPhillips in a research note on Friday, October 11th. Sanford C. Bernstein lowered their target price on ConocoPhillips from $147.00 to $132.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, UBS Group lowered their target price on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $137.47.

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.