Financial Counselors Inc. Raises Stock Holdings in ConocoPhillips (NYSE:COP)

Financial Counselors Inc. raised its holdings in ConocoPhillips (NYSE:COP) by 3.0% during the 3rd quarter, Holdings Channel reports. The firm owned 330,817 shares of the energy producer’s stock after buying an additional 9,775 shares during the quarter. Financial Counselors Inc.’s holdings in ConocoPhillips were worth $34,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ConocoPhillips by 17.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,013,513 shares of the energy producer’s stock valued at $633,103,000 after buying an additional 896,651 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ConocoPhillips by 4.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 554,708 shares of the energy producer’s stock valued at $58,400,000 after purchasing an additional 26,106 shares in the last quarter. Providence Capital Advisors LLC grew its position in shares of ConocoPhillips by 9.1% in the third quarter. Providence Capital Advisors LLC now owns 52,600 shares of the energy producer’s stock valued at $5,538,000 after purchasing an additional 4,400 shares during the period. First Commonwealth Financial Corp PA increased its stake in shares of ConocoPhillips by 18.3% during the third quarter. First Commonwealth Financial Corp PA now owns 2,841 shares of the energy producer’s stock worth $299,000 after purchasing an additional 439 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of ConocoPhillips during the 3rd quarter worth about $35,000. 82.36% of the stock is currently owned by hedge funds and other institutional investors.

ConocoPhillips Stock Performance

ConocoPhillips stock opened at $107.42 on Thursday. The stock has a market cap of $123.63 billion, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $108.86 and a 200-day simple moving average of $110.98. ConocoPhillips has a 1-year low of $101.29 and a 1-year high of $135.18.

ConocoPhillips (NYSE:COP) last posted 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 return on equity of 19.53% and a net margin of 17.29%. The company had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.97 billion. During the same quarter last year, the firm earned $2.16 earnings per share. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. On average, analysts expect that ConocoPhillips will post 7.76 EPS for the current year.

ConocoPhillips Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be issued a $0.78 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, November 8th. ConocoPhillips’s payout ratio is 37.10%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COP. Wells Fargo & Company reiterated a “sector perform” rating on shares of ConocoPhillips in a report on Friday, October 18th. Truist Financial dropped their price target on ConocoPhillips from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, September 30th. BMO Capital Markets raised their price objective on ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group dropped their target price on shares of ConocoPhillips from $153.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Susquehanna raised their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.63.

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.