ConocoPhillips (NYSE:COP) Stake Decreased by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its holdings in ConocoPhillips (NYSE:COP) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,853 shares of the energy producer’s stock after selling 2,723 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in ConocoPhillips were worth $4,511,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Vicus Capital lifted its holdings in ConocoPhillips by 3.7% during the 2nd quarter. Vicus Capital now owns 2,637 shares of the energy producer’s stock valued at $302,000 after purchasing an additional 94 shares during the last quarter. Montag A & Associates Inc. raised its stake in shares of ConocoPhillips by 2.5% during the second quarter. Montag A & Associates Inc. now owns 3,900 shares of the energy producer’s stock worth $446,000 after buying an additional 96 shares during the last quarter. Excalibur Management Corp grew its stake in shares of ConocoPhillips by 2.4% during the second quarter. Excalibur Management Corp now owns 4,037 shares of the energy producer’s stock worth $462,000 after purchasing an additional 96 shares during the period. Cypress Capital Group boosted its stake in ConocoPhillips by 0.5% during the 3rd quarter. Cypress Capital Group now owns 18,790 shares of the energy producer’s stock worth $1,978,000 after acquiring an additional 96 shares during the last quarter. Finally, Bank OZK raised its stake in ConocoPhillips by 1.6% during the 2nd quarter. Bank OZK now owns 6,251 shares of the energy producer’s stock worth $715,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on COP. UBS Group reduced their price target 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. Barclays raised their price target on shares of ConocoPhillips from $135.00 to $137.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Susquehanna boosted their price target on shares of ConocoPhillips from $144.00 to $148.00 and gave the stock a “positive” rating in a research report on Friday, November 1st. Evercore ISI restated an “outperform” rating and issued a $165.00 price target on shares of ConocoPhillips in a research note on Friday, December 6th. Finally, Scotiabank dropped their price target on shares of ConocoPhillips from $120.00 to $115.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, ConocoPhillips presently has an average rating of “Moderate Buy” and a consensus price target of $139.18.

ConocoPhillips Stock Performance

Shares of COP opened at $101.02 on Friday. ConocoPhillips has a 1 year low of $100.58 and a 1 year high of $135.18. The stock’s fifty day moving average price is $107.76 and its two-hundred day moving average price is $109.68. The firm has a market cap of $116.27 billion, a PE ratio of 12.01, a PEG ratio of 0.84 and a beta of 1.18. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.30 and a quick ratio of 1.16.

ConocoPhillips (NYSE:COP) last announced its quarterly earnings results on Thursday, October 31st. The energy producer reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.10. ConocoPhillips had a net margin of 17.29% and a return on equity of 19.53%. The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.97 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts forecast that ConocoPhillips will post 7.77 EPS for the current year.

ConocoPhillips Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 11th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.09%. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.58. ConocoPhillips’s dividend payout ratio (DPR) is currently 37.10%.

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.