ConocoPhillips (NYSE:COP) Shares Purchased by Paloma Partners Management Co

Paloma Partners Management Co increased its stake in ConocoPhillips (NYSE:COP) by 202.5% in the 3rd quarter, Holdings Channel reports. The firm owned 321,944 shares of the energy producer’s stock after purchasing an additional 215,532 shares during the period. ConocoPhillips accounts for approximately 0.9% of Paloma Partners Management Co’s holdings, making the stock its 9th biggest position. Paloma Partners Management Co’s holdings in ConocoPhillips were worth $33,894,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its position in ConocoPhillips by 59.7% in the 3rd quarter. Fisher Asset Management LLC now owns 12,456,011 shares of the energy producer’s stock worth $1,311,369,000 after buying an additional 4,656,040 shares during the period. Pacer Advisors Inc. increased its position in ConocoPhillips by 5,422.3% in the 3rd quarter. Pacer Advisors Inc. now owns 4,587,729 shares of the energy producer’s stock worth $482,996,000 after buying an additional 4,504,653 shares during the period. Primecap Management Co. CA increased its position in ConocoPhillips by 48.9% in the 3rd quarter. Primecap Management Co. CA now owns 4,320,905 shares of the energy producer’s stock worth $454,905,000 after buying an additional 1,418,900 shares during the period. International Assets Investment Management LLC increased its position in ConocoPhillips by 10,634.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,205,666 shares of the energy producer’s stock worth $126,933,000 after buying an additional 1,194,434 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in shares of ConocoPhillips by 19.3% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,811,289 shares of the energy producer’s stock valued at $717,093,000 after purchasing an additional 1,101,685 shares during the period. 82.36% of the stock is currently owned by institutional investors and hedge funds.

ConocoPhillips Price Performance

ConocoPhillips stock opened at $108.34 on Monday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.16 and a current ratio of 1.30. The firm has a market cap of $124.69 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.89 and a beta of 1.21. The business’s fifty day moving average is $108.77 and its two-hundred day moving average is $110.72. ConocoPhillips has a 52 week low of $101.29 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last posted its quarterly earnings data on Thursday, October 31st. The energy producer reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. The company had revenue of $13.60 billion for the quarter, compared to analyst estimates of $13.97 billion. ConocoPhillips had a return on equity of 19.53% and a net margin of 17.29%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.16 earnings per share. Equities research analysts forecast that ConocoPhillips will post 7.76 earnings per share for the current fiscal year.

ConocoPhillips Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 11th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 2.88%. The ex-dividend date is Friday, November 8th. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio is 37.10%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Scotiabank lowered their price objective on ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. restated a “neutral” rating and set a $126.00 price objective (down from $139.00) on shares of ConocoPhillips in a research report on Friday, October 11th. Susquehanna boosted their price objective on ConocoPhillips from $144.00 to $148.00 and gave the company a “positive” rating in a research report on Friday, November 1st. Barclays boosted their price objective on ConocoPhillips from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of ConocoPhillips in a research report on Friday, September 13th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $137.63.

ConocoPhillips 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.