Private Ocean LLC increased its stake in ConocoPhillips (NYSE:COP) by 77.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,293 shares of the energy producer’s stock after purchasing an additional 563 shares during the quarter. Private Ocean LLC’s holdings in ConocoPhillips were worth $74,000 at the end of the most recent reporting period.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bourgeon Capital Management LLC lifted its position in shares of ConocoPhillips by 2.9% in the third quarter. Bourgeon Capital Management LLC now owns 18,766 shares of the energy producer’s stock valued at $1,069,000 after buying an additional 530 shares during the last quarter. Armor Investment Advisors LLC raised its position in ConocoPhillips by 1.8% during the third quarter. Armor Investment Advisors LLC now owns 13,318 shares of the energy producer’s stock valued at $759,000 after purchasing an additional 240 shares in the last quarter. Haverford Trust Co. raised its position in ConocoPhillips by 0.4% during the third quarter. Haverford Trust Co. now owns 44,783 shares of the energy producer’s stock valued at $2,552,000 after purchasing an additional 175 shares in the last quarter. Daiwa Securities Group Inc. raised its position in ConocoPhillips by 1.4% during the third quarter. Daiwa Securities Group Inc. now owns 57,437 shares of the energy producer’s stock valued at $3,273,000 after purchasing an additional 818 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in ConocoPhillips by 2.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 463,628 shares of the energy producer’s stock valued at $26,418,000 after purchasing an additional 9,085 shares in the last quarter. Hedge funds and other institutional investors own 71.45% of the company’s stock.
A number of equities research analysts have weighed in on COP shares. Wells Fargo & Co restated a “buy” rating on shares of ConocoPhillips in a research report on Tuesday, October 15th. Goldman Sachs Group set a $67.00 target price on shares of ConocoPhillips and gave the company a “buy” rating in a report on Friday, October 11th. Barclays assumed coverage on shares of ConocoPhillips in a report on Monday, August 19th. They set an “overweight” rating and a $79.00 target price for the company. Bank of America upgraded shares of ConocoPhillips from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Wednesday, July 17th. Finally, Baader Bank reiterated a “neutral” rating and set a $52.00 target price on shares of ConocoPhillips in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $69.81.
NYSE COP traded down $0.38 during mid-day trading on Friday, reaching $59.16. The stock had a trading volume of 4,699,111 shares, compared to its average volume of 5,979,278. ConocoPhillips has a 1 year low of $50.13 and a 1 year high of $71.01. The stock has a market cap of $64.20 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. The company has a fifty day moving average price of $56.52 and a 200 day moving average price of $58.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.56 and a quick ratio of 2.40.
ConocoPhillips (NYSE:COP) last announced its quarterly earnings data on Tuesday, October 29th. The energy producer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. ConocoPhillips had a net margin of 21.44% and a return on equity of 13.54%. The company had revenue of $10.09 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same period in the previous year, the business earned $1.36 EPS. As a group, equities research analysts expect that ConocoPhillips will post 3.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, October 17th will be issued a $0.42 dividend. This is a positive change from ConocoPhillips’s previous quarterly dividend of $0.31. This represents a $1.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 16th. ConocoPhillips’s payout ratio is presently 37.09%.
ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids worldwide. The company primarily engages in the tight oil reservoirs, LNG, oil sands, and other production operations. Its portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; various LNG developments; oil sands assets in Canada; and an inventory of conventional and unconventional exploration prospects.
Recommended Story: What are the disadvantages of after-hours trading?
Want to see what other hedge funds are holding COP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConocoPhillips (NYSE:COP).