UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 896,651 Shares of ConocoPhillips (NYSE:COP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ConocoPhillips (NYSE:COP) by 17.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,013,513 shares of the energy producer’s stock after purchasing an additional 896,651 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.52% of ConocoPhillips worth $633,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in ConocoPhillips by 4.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 554,708 shares of the energy producer’s stock worth $58,400,000 after purchasing an additional 26,106 shares during the period. Providence Capital Advisors LLC boosted its position in ConocoPhillips by 9.1% during the third quarter. Providence Capital Advisors LLC now owns 52,600 shares of the energy producer’s stock worth $5,538,000 after purchasing an additional 4,400 shares during the period. First Commonwealth Financial Corp PA boosted its position in 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 during the period. RPg Family Wealth Advisory LLC bought a new position in ConocoPhillips during the third quarter worth about $35,000. Finally, CreativeOne Wealth LLC boosted its position in shares of ConocoPhillips by 20.6% in the third quarter. CreativeOne Wealth LLC now owns 9,906 shares of the energy producer’s stock valued at $1,043,000 after acquiring an additional 1,690 shares during the period. Institutional investors own 82.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on COP. Mizuho raised their price objective on shares of ConocoPhillips from $129.00 to $132.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Scotiabank cut their price objective on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating for the company in a research report on Thursday, October 10th. Finally, BMO Capital Markets raised their price objective on shares of ConocoPhillips from $123.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Six equities research 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 stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus target price of $137.63.

ConocoPhillips Trading Up 0.6 %

COP stock opened at $107.42 on Thursday. The company has a market capitalization of $123.63 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. ConocoPhillips has a one year low of $101.29 and a one year high of $135.18. The company’s 50 day moving average price is $108.86 and its two-hundred day moving average price is $110.98. 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 posted its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping the consensus estimate 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 17.29% and a return on equity of 19.53%. The business’s revenue was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. As a group, analysts predict 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. Shareholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from ConocoPhillips’s previous quarterly dividend of $0.58. This represents a $3.12 annualized dividend and a dividend yield of 2.90%. ConocoPhillips’s dividend payout ratio (DPR) is 37.10%.

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.