Platform Technology Partners Increases Stock Position in ConocoPhillips (NYSE:COP)

Platform Technology Partners raised its position in shares of ConocoPhillips (NYSE:COP) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,424 shares of the energy producer’s stock after buying an additional 375 shares during the quarter. Platform Technology Partners’ holdings in ConocoPhillips were worth $1,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in COP. Bleakley Financial Group LLC lifted its position in ConocoPhillips by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 33,371 shares of the energy producer’s stock valued at $4,247,000 after buying an additional 1,672 shares during the period. Entropy Technologies LP purchased a new position in shares of ConocoPhillips in the 1st quarter worth about $3,656,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of ConocoPhillips by 4.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 50,075 shares of the energy producer’s stock worth $6,374,000 after purchasing an additional 2,041 shares during the last quarter. Patton Fund Management Inc. raised its position in shares of ConocoPhillips by 60.9% in the 1st quarter. Patton Fund Management Inc. now owns 3,623 shares of the energy producer’s stock worth $461,000 after purchasing an additional 1,371 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of ConocoPhillips by 34.7% in the 1st quarter. TD Asset Management Inc now owns 2,762,431 shares of the energy producer’s stock worth $351,602,000 after purchasing an additional 712,062 shares during the last quarter. Hedge funds and other institutional investors own 82.36% of the company’s stock.

ConocoPhillips Trading Up 0.4 %

ConocoPhillips stock opened at $112.08 on Tuesday. The firm has a 50 day moving average of $107.69 and a 200 day moving average of $112.04. The firm has a market capitalization of $128.99 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.91 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 1.30, a quick ratio of 1.16 and a debt-to-equity ratio of 0.34.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) 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 analyst estimates of $13.97 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, research analysts predict that ConocoPhillips will post 7.8 earnings per share for the current year.

ConocoPhillips Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 2.78%. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, November 8th. ConocoPhillips’s dividend payout ratio is presently 37.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on COP. UBS Group lowered their price target on ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wolfe Research initiated coverage on ConocoPhillips in a research report on Thursday, July 18th. They issued an “outperform” rating and a $145.00 target price for the company. BMO Capital Markets boosted their target price on ConocoPhillips from $123.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Barclays boosted their target price on ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company reissued a “sector perform” rating on shares of ConocoPhillips in a research report on Friday, October 18th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.47.

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.